Rail freight from China to Russia has spiked, while fewer trains head to the European Union. Photo: Reuters.
China Railway’s efforts to ramp up its rail network is weighing on its finances as liabilities have ballooned to 5.91 trillion yuan ($882 billion), about 5% of China’s economy, as of the end of 2021, Nikkei Asia reported.
The company plans to sell bonds to brokerages and lenders to foot the bill of expanding the reach of its rail network from about 40,000 km now to 70,000 km by 2035, the report said.
Read the full report: Nikkei Asia.
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