Briefly

Railway network receives $28m funding

China has allocated 200 million yuan ($28.3 million) from the central budget to support the construction of transportation hubs in five cities to improve China-Europe rail freight services. According to a statement by the National Development and Reform Commission, the funds will be used to support the construction of demonstration projects in Zhengzhou, Chongqing, Chengdu, Xi'an and Urumqi in a bid to improve the efficiency of the transportation network of the rail freight services.

Plastics industry posts higher profits

China's plastics industry registered profit growth in the first five months of the year, data from the Ministry of Industry and Information Technology showed. Manufacturers of plastics products raked in 38.04 billion yuan ($5.39 billion) in total profits in the January-May period, up 12 percent year-on-year. The total operating revenue of these companies went down by 9 percent from the previous year to 665.81 billion yuan during the period.

Xinhua