China Railway Corp. Slows Spending on Rail Projects
China’s railway operator is putting the brakes on rail investment for 2018, setting a target that’s 8.5% less than the 800 billion yuan ($122.9 billion) benchmark it had used since 2014.
China Railway Corp. (CRC) will invest up to 732 billion yuan in the sector for 2018, down from last year’s 801 billion yuan, CRC said at a news briefing on Tuesday.
The newly announced final 2017 figure also is a slight decline from 2016’s 801.5 billion yuan, which represents a fourth straight year of decline.
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