(MENAFN- Qatar News Agency) ijing April 09 - China will increase railway fixed asset investment to 720 billion yuan (117.09 billion U.S. dollars) in 2014 Sheng Guangzu general manager of the China Railway Corporation (CRC) has revealed. In Wednesday's People's Daily the flagship newspaper of the Communist Party of China Sheng said the corporation was increasing investment to meet demand. Forty-nine new projects and over 7000 kilometers of new railway lines will be put into operation this year. The former plan set at the beginning of the year targeted 700 billion yuan of fixed asset investment 44 new projects and 6600 kilometers of new railway lines according to the CRC. Sheng said that 78 percent of all construction investment will be in central and western regions which will have 86 percent of this year's newly operated railways. According to a five-year plan from 2011 to 2015 230000 kilometers of new railway lines will be built in central and western regions with an investment of 1.85 trillion yuan. The general manager said from 2011 to 2013 1.15 trillion yuan had been invested in the two regions. Disappointing economic indicators suggested China's first quarter growth may have slipped below the annual target of 7.5 percent. The government has therefore mapped out ways to control the slowdown. Supportive policies including cutting tax for micro and small businesses facilitating shanty-town renovation and speeding up railway construction were announced last Wednesday in an attempt to inject new blood into the faltering economy
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