China will spend $503 billion on high-speed rail by the beginning of the next decade.
"China plans to spend 3.5 trillion yuan ($503 billion) to expand its railway system by 2020 as it turns to investments in infrastructure to bolster growth and improve connectivity across the country," according to an article on Bloomberg.
The completed high-speed rail network will span 30,000 kilometers (increasing from the 2015 total of 19,000 kilometers), also known as 6.5 times the distance separating New York and Los Angeles. The system will also connect 80 percent of China's major cities.
The plan released this week by the State Council Information Office "will also add 3,000 kilometers to its urban rail transit system," according to the article.
FULL STORY: China Turns to $503 Billion Rail Expansion to Boost Growth
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