(Yicai Global) March 30 -- China is to put the brakes on the construction of its high-speed railway network, already the longest in the world, as high debt levels and low profitability have increased risk, the country’s cabinet said yesterday.

The country currently has 39,700 kilometers of high-speed rail along which trains can cruise at speeds of 350 kilometers an hour, slashing overland travel times. Much of the technology has been home grown and the big push to link the country by fast train which started 14 years ago has been a huge source of national pride.

A State Council plan rolled out in February said the network should increase to 70,000 kilometers by 2035, but now it seems that the speed of expansion will be tempered.

Sources of capital for railway construction should come through multiple channels and at least half of it should not be borrowed, the cabinet said. The government will improve the mechanisms by which seats and freight are priced.

It will also enhance support for national railway projects in the outer provinces and regions of Sichuan, Yunnan, Gansu, Qinghai, Tibet, Xinjiang and key border areas.

Editor: Kim Taylor