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 China
Famous quotes containing the words current and/or expansion:
“Through this broad street, restless ever,
Ebbs and flows a human tide,
Wave on wave a living river;
Wealth and fashion side by side;
Toiler, idler, slave and master, in the same quick current glide.”
—John Greenleaf Whittier (1807–1892)
“The fundamental steps of expansion that will open a person, over time, to the full flowering of his or her individuality are the same for both genders. But men and women are rarely in the same place struggling with the same questions at the same age.”
—Gail Sheehy (20th century)