China funding bulk of its railways
While foreign investment floods into the manufacturing, transport and logistics sectors of China, it is still a relatively low percentage of the money China spent on its railways in 2006, according to information released Monday by China's Ministry of Railways.
The ministry said roughly $387 million was invested from foreign sources last year, less than two percent of the $20 billion spent on the railways to improve capacity. However, a rail official in March said that the government has actively sought foreign investors to develop intermodal and logistics hubs throughout the country, with 26 joint ventures set up in the last three years. According to railways minister Liu Zhijun, China will spend $33 billion on its rail network this year.