Fixed-asset investment in rail sector surges in Jan

China's railway industry saw a big increase in fixed assets and infrastructure investment in January.

Data from the Ministry of Railways show that last month railways fixed assets realized 20.99 billion yuan ($3.36 billion), up 70.9 percent on the same period last year. Among total fixed assets investment, infrastructure investment rose 62.3 percent to 14.18 billion yuan from a year earlier.

Railways fixed assets investment generally includes infrastructure investment, updating and alteration of facilities, and buying locomotives.

Railways fixed assets investment in China is set to reach a new high next year, with an estimated value of more than 650 billion yuan.