China has announced that it is planning to expand its speed railway network as it would lead to an infrastructure and economy growth as well as cross-country connectivity.
In recent years, China has been one of the top players. With developments in both industry and infrastructure, the country can be considered amongst the global superpowers.
It has been its advancements on some of its leading technological innovations. As the country is also one of the world’s geologically biggest, it has to face quite different environments.
The Chinese State Council Information Office has released a white paper. Through it, they are announcing new investments in infrastructure. The paper was published on Thursday, in Beijing.
In it, they also applauded the country’s highway and railway construction technologies. These are said to have overcome a number of geographical challenges.
As it is, they may be facing even more challenges. The same paper also announced the country’s plan of expanding its speed railway system. It will be increased by more than 30,000 km.
The expansion will cover an area almost 6.5 times the size of a Los Angeles to New York trip. As such, the high-speed railway system will connect 80 percent of the Major Chinese cities.
China plans to carry out the expansion over a less than 4 year time period. The speed railway system should be finished by 2020.
An estimated value has been placed at around 3.5 trillion yuan. A conversion would lead to a $729.6 billion sum.
Although the investment will be quite notable, so are its potential benefits. The Chinese State Council Information Office also pointed out the future advancements.
The infrastructure increase could help bolster the country’s growth. It would improve the connectivity across its various reasons. As such, it would also lead to a faster information transfer.
China will be investing in both its speed railway as well as its urban rail transit systems. It is planning on adding 3,000 km to the latter.
The rail systems expansions will probably be carried out by more than a company. As it is, the plan has already been a boon to some rolling stock suppliers. CRRC Corp, China Railway Group Ltd., and China Railway Construction Corp are among such companies.
Earlier this year, China made a further step forward. It turned, for the first time, to the services of a private company. This was asked to help operate a mainland inter-city rail service.
The decision was part of the Chinese president’s modernization campaign. Xi Jinping has set out to modernize the country’s transport network. This should help the nation as its economy has registered a slowing growth. Presently, China is considered the world’s second-largest economy.
Yang Yudong, the Chinese National Railway Administration administrator, also released information. According to Yudong, the Chinese government will be inviting private investors.
They will be able to participate in the funding of the regional and intercity rail lines. Future regional and speed railway system investments will also target poorer areas.
Yudong expressed hope that in time, such lines will break even. This might be achieved through a steadier goods and people flow.
The speed railway expansion is part of a larger transportation plan. A rail reform has already been initiated. The ticket price rise and rail line private investments are amongst the first such measures.
Government authorities are planning to adjust the fares so as to ensure a viable rail business nationwide.
By early 2016, China had a 121,000 km long railway system. This included the speed railway, which came up to 19,000 km.
As of 2014, the United States has about 228,218 km of rail lines.
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