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Private Capital Largely Limited in Railway Industry

By staff reporters Zhang Lu, Weng Shiyou, Chen Yan and intern reporter Song Wei 

China’s railway system is currently facing a huge dislocation of capital: central government investment has dropped, while railway infrastructure projects are in urgent need of a capital injection.

According to the main indicators released by the Ministry of Railways (MOR) in Feb. 2012, capital investment in China's railway industry totaled 20.796 billion yuan in 2011, a decrease of 67.5 percent over the same period last year.

Behind this is a shortage of construction funds. MOR data show that as of Sept. 30, 2011, the railways ministry had 3.74 trillion yuan in total assets, 2.23 trillion yuan in liabilities, and a debt ratio as high as 59.6 percent.

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