China is tightening approvals for intercity railways and urban metro projects – long-standing pillars of fixed-asset investment – as policymakers pay closer attention to debt risks while shifting the growth model towards consumption.
The move comes as President Xi Jinping has specifically flagged operational strains at some high-speed rail stations and subway lines – a sign that the old growth driver may be further curtailed in the coming years.
According to an online statement on Sunday by the…
China tightens rail approvals as Xi warns on overbuilding, waste and ‘operational’ trouble
