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China must avoid ‘blind competition’ within high-speed railway network development to maintain ‘reasonable’ debt levels

Summary:
[unable to retrieve full-text content]China’s high-speed railway network development plan must avoid “blind competition” from local authorities to keep debt at a “reasonable” level, the State Council has warned. The 38,000km network is already the world’s largest, but Beijing is increasingly worried about an increasing debt level, with 5.57 trillion yuan (US0 billion) worth of liabilities already on the books of the state-owned China State Railway Group alone. “Some local governments prefer high-speed railways to ordinary-speed…

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[unable to retrieve full-text content]
China’s high-speed railway network development plan must avoid “blind competition” from local authorities to keep debt at a “reasonable” level, the State Council has warned. The 38,000km network is already the world’s largest, but Beijing is increasingly worried about an increasing debt level, with 5.57 trillion yuan (US$850 billion) worth of liabilities already on the books of the state-owned China State Railway Group alone. “Some local governments prefer high-speed railways to ordinary-speed…

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