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China will invest 800 billion yuan ($119.38 billion) in the rail sector for 2019, Premier Li Keqiang said in his annual government work report on Tuesday.
The goal was slightly higher than the target of 732 billion yuan for 2018.
A total of 4,100 kilometers (2,548 miles) of new high-speed railways will be added in 2019, according to Premier Li.
In 2017, the Transportation Ministry said China planned to spend 3.5 trillion yuan in the railway sector as part of the country’s 13th Five-Year Plan, which charts development goals for 2016-2020. Under the plan, the government will build 30,000 kilometers of new track over five years, expanding the country’s railway network to a total of 150,000 kilometers
This article first appeared on www.caixinglobal.com
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