The Epoch Times Although China’s state railway system has suffered severe losses for years, China’s Development and Reform Commission (NDRC) recently emphasized the need to speed up the construction of more transportation infrastructure.
According to a Chinese economic and financial commentator and analyst, the Chinese leadership does not consider investment returns, it just wants to use the large infrastructure spending to help maintain the country’s GDP figures.
According to the “2022 Fifth China Railway Construction Bond Credit Rating Report” released on May 10, the total debt accrued by China State Railway Group Co., Ltd. (hereafter referred to as China Railway) in 2021 was 4.99 trillion yuan (about $747.4 billion). Total operating income was only 1.1 trillion yuan (about $169.7 billion), making its expenses 4.4 times greater than annual revenue…
