Current HSR Expansion
China's high speed rail expansion is entirely managed, planned and financed by the government. After committing to conventional-track high speed rail in 2006, the state has embarked on an ambitious campaign to build passenger-dedicated high-speed rail lines, which accounts for a large part of the government's growing budget for rail construction. Total investment in new rail lines grew from $14 billion in 2004 to $22.7 and $26.2 billion in 2006 and 2007. In response to the global economic recession, the government accelerated the pace of HSR expansion to stimulate economic growth. Total investments in new rail lines including HSR reached $49.4 billion in 2008 and $88 billion in 2009. In all, the state plans to spend $300 billion to build a 25,000 km (16,000 mi) HSR network by 2020.
Read more about this topic: High-speed Rail In The People's Republic Of China
Famous quotes containing the words current and/or expansion:
“It is a quite remarkable fact that the great religions of the most civilized peoples are more deeply fraught with sadness than the simpler beliefs of earlier societies. This certainly does not mean that the current of pessimism is eventually to submerge the other, but it proves that it does not lose ground and that it does not seem destined to disappear.”
—Emile Durkheim (1858–1917)
“Artistic genius is an expansion of monkey imitativeness.”
—W. Winwood Reade (1838–1875)