China officials said the country will invest 700 billion yuan, or $106 billion, in building railways for various intercity projects.
The People’s Daily reported the following:
- A $33 billion high-speed rail link between Beijing and Shanghai will open in June.
- A total of 70 railway projects will be launched this year.
- 15 of those construction projects are for high-speed railways connecting cities.
- China is taking its learnings and going after international projects. China’s state-run rail companies are expected to build high-speed networks in Thailand and Laos in 2011.