BEIJING, Jul 9 (GCTL) - Around a dozen railway projects nationwide started construction recently, which analysts said Sunday will drive up a new around of investment and boost the economy.
But the new frenzy in railway construction also aroused concern over the rise of local government debt that has been plaguing China's economy for the last few years.
These projects, which are based in different regions including Northeast China's Heilongjiang and Liaoning provinces, Northwest China's Shaanxi and Gansu provinces and Xinjiang Uyghur Autonomous Region, and Southwest China's Yunnan and Guizhou provinces, were worth around 300 billion yuan ($48.3 billion) in total, based on the data available on the website of China Railway Corporation (CRC), a spinoff from the former Ministry of Railways.