China’s First Privately-Owned High-Speed Rail Starts Operations
China’s first privately-owned high-speed railway sped into operations on Saturday. The railway project, a public-private partnership, could lead the way for more private capital to finance the nation’s costly high-speed rail network.
Costing 44.9 billion yuan ($7 billion), the 266-kilometer Hangtai high-speed railway links Hangzhou and Taizhou. Travel time between the two cities in the southern province of Zhejiang via the service could take as little as 63 minutes, according to one of the developers, China State Railway Group Co. Ltd. That’s almost half of the current travel time.
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