China to scale back high-speed rail projects

Posted on February 22, 2012

BEIJING — China's high-speed rail project has run out of money and will be scaled back dramatically this year, according to The Telegraph.

Out of 23 current railway projects, some 70% have been suspended, partly suspended or delayed. Having run up enormous debts, the Chinese Railways ministry is struggling to persuade banks to continue to finance its ambitions. For the full story, click here.




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