Rail travel on the rise as Chinese take trains in annual pilgrimage home
Shanghai
MILLIONS of Chinese cram onto trains to make the annual pilgrimage home for the Chinese New Year holiday. It's a crowded and often uncomfortable experience that is rapidly being transformed by the country's push into the world of high-speed rail.
China already has the globe's longest bullet-train network, but it's plowing 3.5 trillion yuan (S$733.5 billion) into expanding its railway system by 18 per cent over the next two years, to 150,000km.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Transport & Logistics
GLP says 2025 bond repayment sources identified
Volvo Cars April sales rise on strong EV demand
EV automakers get reprieve in US tax credit rules
Abu Dhabi hub carrier Etihad adds banks to US$1 billion IPO
Luminar to cut nearly 20% jobs as part of restructuring
Chinese share of French EV market slumps after incentives curbed