Heading in a new direction

Private capital allowed to construct, operate railways, freight services

China will fully open its railway sector to private investment, the nation's top economic planner said on Thursday, as part of the government's efforts to boost the slowing economy.

Private capital will be encouraged to participate in the construction and operation of railways through joint ventures and sole ownership with a focus on inter-city railways, suburban corridors and feeder lines, the National Development and Reform Commission said in a statement.