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Print[Ferro-alloys.com]Local governments had been aware of the importance of railway and started to speed up the construction of intercity railroad after they got the dominant right. According to internal statistics, overall railroad investment in the first nine months added up to RMB 328.7 billion (USD52.7 billion). Investment on national railway and joint-venture railway was RMB 327.3 billion, up 12.2% year-on-year. Investment on local railway was RMB 1.044 billion, up 289% year-on-year.
National railway was managed by railway competent department of the State Council. Joint-venture railway was constructed and managed by China Railways Corporation, local government, local enterprises and other investors. Local railway was managed by local governments. It’s worth noting that investment growth rate of local railway was much higher than other railroads in the past three quarters.
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