Railway investment adds nearly 100 billion abrasives to the industry

**Abstract:** In order to boost economic growth, both the central and local governments are now highly motivated to invest in railway infrastructure. Some new projects have been added in the second half of the year. This year's railway infrastructure investment is expected to rise by nearly 100 billion yuan, although its success will depend on whether these projects can be completed. The funding has already been secured, according to Wang Mengshu, an academician of the Chinese Academy of Engineering, who made these remarks in a recent interview. Wang Mengshu also noted that there are still significant funding challenges for railway projects, particularly at the local level. With over 10,000 kilometers of construction underway, many projects remain underfunded or delayed. A few days ago, the State Council requested detailed reports on ongoing projects, upcoming initiatives, survey needs, and project progress, aiming to plan railway investments for the coming years. According to the current plan, 1.33 billion yuan will be invested over three years following the 12th Five-Year Plan, with more than 20,000 kilometers of new lines expected to be operational. However, this is less than the initial target of 520 billion yuan set at the start of the year, with next year’s investment estimated at only 810 billion yuan. Wang Mengshu emphasized that to meet the goals of the "12th Five-Year" railway development plan and long-term planning, annual railway investment should remain around 600 billion yuan. Recent discussions among China Railway Corporation officials revealed that this level of investment may not be sufficient to complete the planned projects. According to quarterly reports from China Railway Construction and China Railway Group, the first quarter saw significant increases in new railway contracts—51.225 billion yuan and 73.64 billion yuan respectively, representing growth of 302.72% and 712.1%. However, due to funding shortages, railway infrastructure investment in the first half of the year was relatively low. While monthly investment figures remained stable, total investment for the first half reached only 186.9 billion yuan, accounting for just 36% of the annual target of 520 billion yuan. Wang Mengshu pointed out that the underutilization of railway projects is causing difficulties for industries such as steel, cement, coal, and machinery, which are facing overcapacity. He argued that increased investment could help stabilize the economy while also addressing excess capacity. He also mentioned that key routes between Beijing and provincial capitals, as well as intercity networks within provinces, require state-level attention. Local leaders are frequently visiting China Railway to request support for their plans. In response to these challenges, the State Council recently proposed reforms to the railway investment and financing system. These reforms aim to open up the railway construction market, prioritize infrastructure in central and western regions, and accelerate preliminary work on key projects to ensure timely completion and maintain quality. According to a senior engineer from a major railway bureau, several new projects, including Chenglanke, have been added to the schedule for the second half of the year, and the bidding process is currently underway.

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