Rail Operator Says Its Debts Have Risen to More than 4 Tln Yuan

(Beijing) – The operator of the country's railroads says its debt pile rose to more than 4 trillion yuan in the first quarter of the year.

China Railway Corp. (CRC) said it had debt of 4.14 trillion yuan as of the end of March, up 10.4 percent from the same period in 2015.

The announcement appeared in a first quarter audit report written by a firm hired by the CRC. The report was posted on the website of the China Central Depository & Clearing Co. Ltd., the nation's main state-backed bond clearinghouse, on April 29.