Govt sets $300b for railway construction

The State Council has approved 2 trillion yuan ($292 billion) for the construction of a series of railway projects, to help boost economic growth amid the worldwide financial crisis.

Increasing investment in fixed assets has remained a catalyst of China's economic development. By 2010, the total length of China's railway will reach 90,000 km, according to the Ministry of Railways.

A number of major railway projects will be started soon, www.ce.cn - the country's leading economic news portal - quoted Wang Yongping, spokesman for the Ministry of Railways, as saying on Friday.