China's railway investment falls for a third straight year

3,000 km of new rail to be funded this year, a 26.8% decline from 2022

20230106 China railways

Aerial photo shows newly overhauled bullet trains lined up at the storage track of Chengdu EMU depot of China Railway Chengdu Group in preparation for the 2023 Spring Festival travel rush in Chengdu City, southwest China's Sichuan Province on Jan.3 (Imaginechina via AP Images)

GUO YINGZHE and LI RONGXI, Caixin

China's investment in its state railway operations dropped 5.1% in 2022, the third consecutive year of decline, as the country wraps up building the major lines of the world's largest high-speed railway network.

The fixed-asset investment declined to 710.9 billion yuan ($103.4 billion) last year from 802.9 billion yuan in 2019, according to a Wednesday statement from China State Railway Group Co. Ltd.

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