| Abstract |
To boost economic growth, China has massively invested in transport infrastructure in recent years. Fixed assets investment in the four major modes of transportation (road, railway, water and air) amounted to 2,200 billion yuan in 2011. Highway alone accounted for more than half of the total fixed assets investment in the four major modes of transportation, indicating the importance of road transportation in the development of transport infrastructure in China. Among all, investment in railway in 2011 dropped the most, owing to the slowdown in high speed railway (HSR)* construction projects in China. The railway market has been facing funding shortages due to uncertain policy and credit curbs, particularly after the fatal Wenzhou accident in July 2011. Nonetheless, China’s Ministry of Railways (MOR) announced plans. |
