China must avoid ‘blind competition’ within high-speed railway network development to maintain ‘reasonable’ debt levels

Mar 30, 2021 | INVESTING

China’s high-speed railway network development plan must avoid “blind competition” from local authorities to keep debt at a “reasonable” level, the State Council has warned. The 38,000km network is already the world’s largest, but Beijing is increasingly worried about an increasing debt level, with 5.57 trillion yuan (US$850 billion) worth of liabilities already on the books of the state-owned China State Railway Group alone. “Some local governments prefer high-speed railways to ordinary-speed…

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