(Yicai Global) Jan. 11 -- China has green-lighted over CNY1 trillion (USD150 billion) in investment over the past month, with the vast majority to be spent on rail and subway projects.
The country will build subway projects in six cities including Shanghai, Hangzhou and Wuhan, while there are plans to construct new rail lines in northern Guangxi province, Xi'an and Yan'an, as well as cities in Jiangsu province.
Chinese authorities earmarked CNY298.3 billion for Shanghai's subway system over five years on Dec. 19 to expand the eastern city's network to 27 lines with over 1,100 kilometers of track. Planners in Wuhan will spend CNY147 billion to extend its urban rail network over the next five years to curb congestion.
Editor: William Clegg