BEIJING -- China is planning a record-high rail investment of around 850 billion yuan ($125 billion) this year, aiming to prop up a sputtering economy with stimulus measures that also include subsidies for car and appliance purchases.
"Investment for 2019 will very likely reach 850 billion yuan," said an executive at China Railway, a state-owned enterprise handling the rail sector. This would be about 6% over last year's figure of 802.8 billion yuan, which surpassed initial plans by about 10%.
