BEIJING Nov 10 China plans to spend 600 billion
yuan ($96 billion) building railway infrastructure next year,
with 60 percent of the investment going to high-speed projects,
a senior executive from China's leading rail and highway builder
Li Changjin, chairman of China Railway Group Ltd,
also said that it was difficult for China to
complete this year's plan for railway infrastructure investment.
Li made the remarks on Friday on the sidelines of China's
Communist Party congress which is meeting to choose new leaders.
To support the slackening domestic economy, China has raised
its planned total railway investment by 20 billion yuan to 630
billion yuan for 2012, the country's Ministry of Railways said
Beijing has also approved 25 rail projects that could be
worth more than 700 billion yuan as part of measures to support
the broader economy, currently grappling with its slackest
period of growth since early 2009.
The government said on Wednesday it would increase state
spending and offer tax breaks to quicken the development of the
country's urban public transport system.
(Reporting by Beijing bureau; Editing by Nick Edwards)