Aug 02, 2011 07:19 PM

Industry Veteran Says Rail Ministry Disguised H1Losses

By staff reporter Gu Yongqiang

(Beijing) -- The Ministry of Railways said it booked 4.3 billion yuan in profit for first half of 2011, but an industry veteran said the ministry would have suffered 25 billion yuan in losses after deducting proceeds from funds designated for railway construction.

According to a statement by the rail ministry on August 1, the ministry booked 352.6 billion yuan in revenue from January to June.

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