China's railway investment up 11.1% in first 11 months

BEIJING -- China has made new breakthroughs in railway construction since the beginning of the year, said the country's railway operator on Tuesday.

During the January-November period, fixed-asset investment in the country's railway sector reached 711.7 billion yuan (about $99 billion), marking an 11.1 percent increase from the same period last year, according to China State Railway Group Co., Ltd.

Through the high-quality development of a modern rail infrastructure system, the country has maximized the effectiveness of railway investment in driving broader societal investment, the company noted.

The latest progress in the country's rail infrastructure construction includes the trial operation of the Shanghai-Suzhou-Huzhou high-speed railway and the high-speed railway line stretches from Jining in Inner Mongolia through Datong to Yuanping, both in Shanxi province.

The company said it will fulfill the annual investment target to make contributions to implementing major national strategies and consolidating the economic recovery trend.