China already has the world’s biggest high-speed rail network
According to reports, China State Railway Group will double the length of the nation’s high-speed-rail network to 70,000km by 2035.
As part of the outlined plans, all cities of more than 500,000 people will be linked through the project. China already has the world’s largest network of high-speed rail.
In the past China has used large scale infrastructure projects – such as high-speed rail – to provide a boost to the nation’s economy.
Even though China’s economy has not been as badly impacted as many others around the world due to Covid-19, growth for 2020 is only projected at 1%, which would be a steep drop from 2019’s 6.1%.
A large part of the expanded network would be funded by debt and the high-speed rail network is not especially profitable, although this is partly due to the relatively low cost of tickets.
Larry Hu, chief China economist with Macquarie Capital, told the South China Morning Post: “China’s economic growth has three pillars: exports, property and infrastructure investment. Exports can no longer be relied upon, and property speculation will be curbed, so infrastructure investment is the last pillar that shouldn’t fall.”
XCMG: Six bridges and two engines, XCA400L8 _ 1 is high-tech!
Set a New National Record, Sinotruk Heavy Truck Export Exceeds 14000 Vehicles in February!
Renovation of Patterns? Zhonglian Mining Machine "Customer Activity Day" Officially Opened
Good news of delivery | Batch delivery of 30 SJM 3090F wide-body dump trucks
XCMG Official 5m 1000W*2 Hand Push Operated Lifting Telescopic Mobile Metal Halide Lamp Balloon Light Tower
XCMG Official 5m Hand Push Lifting Telescopic Mobile Halogen Lamp Light Tower for Construction Site and Mining
XCMG Factory 9m Hydraulic Mast Diesel Generator Trailer Mobile LED Stadium Light Tower
XCMG Official 7m China New Mobile Diesel Generator Explosion Proof LED Work Light Tower for Sale