China will spend ¥2 trillion building 20,000km of railroads in the rest of the year and the following 3 years, Wang Zhiguo, vice railway minister said Monday. "We are going to sink ¥600 billion into rail tracks this year and ¥247.5 billion has been spent through July, up 136% on the same period of 2008, and the Beijing-Shanghai Express Railway has drawn ¥84.4 billion, or 38.8% of the planned total investment," Wang said. "China's rail network will be extended by 5,600km reaching a total of 86,000km by the end of 2009, second only to the US in total length."
$1 = ¥6.8