China to build four new railway lines

(ECNS) -- China's top economic planner has approved four new railway lines and expansion projects with a total estimated investment of 66.24 billion Yuan ($10.7 billion).

These include a section of Zhenglanqi-Zhangjiakou line from Heichengzi to Zhangjiakou, Yuhuai Railway's second track project, Changchun to Baicheng rail expansion and reconstruction, as well as Yangpingguan-Ankang's second line.

The National Development and Reform Commission said the projects are intended to improve current transportation efficiency and capacity alongside the railway network layout, while promoting regional economic and social development.

Shi Lei, director of the public economic research center at Fudan University, said that large-scale investment is the primary focus of the 12th and 13th Five-Year plans, especially across central and western regions. Investment projects approved by the NDRC will help ease problems related to incomplete infrastructure and drive overall economic growth.

NDRC has approved 25 railway projects since mid October.

Consumption, export and investment are seen as the "three carriages" pushing forward China's economic development. Among these three factors, consumption growth cannot accelerate rapidly in the short run while Chinese exports remain un-optimistic.

Therefore, expanding domestic demand through infrastructure construction investment is viewed as an effective way to achieve economic growth, especially against a background of a global economic downturn.