Caixin OnlineBusiness & IndustryTop Stories Industry Cabinet Tells CRC to Devise Investment Reform Plan by Year's End
07.30.2013 18:11

Cabinet Tells CRC to Devise Investment Reform Plan by Year's End

State Council wants route for private capital to enter the industry by next year, but railroad operator said to resist
By staff reporter Lu Bingyang

(Beijing) – The cabinet has told China Railway Corp. (CRC) to work out a detailed reform plan for investment and financing by the end of the year, a source in the organization that operates the country's railroads says.

The State Council also told the CRC, which was spun off from the Ministry of Railways in March, to open the ownership and operation of intercity railroads and the lines that carry natural resources to private capital by next year.

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