China Approves $35,8 billion in Railway Modernization Projects
China has approved a 247 billion yuan ($36 billion) railway plan to improve transport links between the capital Beijing, the port city of Tianjin, and the neighboring province of Hebei, part of plans to integrate the three areas into a mega-city.
According to a statement published by the Chinese State Development and Reforms Committee, volume of financing will total 247 billion yuan (about $35,78 billion).
The plan includes nine projects of railway lines’ construction with the length of 1,100 square meters. It is scheduled to be implemented by 2030. According to the project documentation, railroad stations will be built in the cities with over 100,000 people, through which territory the railroad branches will pass.
The Chinese authorities plan to convert Beijing, Tianjin and Hebei into an enormous social and economic metropolitan area.