Daily Times

Fixed-asset investment in China’s railways went up 6.6 percent year on year in the first quarter (Q1) of the year, data from the China State Railway Group Co., Ltd. shows. A total of 113.55 billion yuan (about 16.40 billion U.S. dollars) was invested in the country’s railways, said the group, adding that the growth of the investment was comparatively high in recent years. The company’s revenue jumped 18.2 percent year on year during the same period to 271.9 billion yuan. In the first three months, China’s railways handled 753 million passenger trips, surging 66 percent year on year. The country’s rail freight volume, a key indicator of economic activities, rose 2.3 percent year on year to 970 million tonnes in the same period.