China OKs $12B In New Rail Infrastructure Investments

Law360, New York (November 27, 2012, 3:14 PM EST) -- Chinese officials have signed off on the construction of two subway projects and preliminary work on a third rail line, all in major cities, adding developments worth a reported 75 billion yuan ($11.9 billion) to the country's fast-growing rail network.

The fresh plans, outlined by the state-run Shanghai Securities News, reinforce China's commitment to building up mass transit infrastructure, in part as a way to keep its economy strong. The nation has struggled over the past two years after blasting ahead of other nations whose economies...
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