Ministry of Railways of the People'S Republic of China

Ministry cites SOEs for 'serious' rail flaws

The Ministry of Railways has cited several Chinese state-owned enterprises (SOEs) over 'serious' quality and safety flaws in 12 mainland rail lines.

Wednesday, 15 August, 2012, 11:23pm

Ex-rail chief's crimes detailed

The Ministry of Railways reportedly detailed six major crimes allegedly committed by its former minister Liu Zhijun during an internal briefing on Friday.

15 Aug 2012 - 11:07pm

CRCC will roll HK$99b into railways

State-owned China Railway Construction Corporation (CRCC) plans to spend 80.66 billion yuan (HK$99 billion) on infrastructure, urban development and property in the next three years, its bond prospectus says.

14 Jul 2012 - 12:00am

Promo film puts ministry in a bad light

The Railways Ministry has found itself in hot water again, with the National Audit Office's latest report on government spending saying it spent 18.5 million yuan (HK$22.7 million) on a promotional video without going through proper public tendering.

29 Jun 2012 - 12:00am

Auditor's report details litany of financial abuse

The mainland's top audit office says 300 central government officials, including some department chiefs, abused funds totalling almost 4.4 billion yuan (HK$5.4 billion) last year.

28 Jun 2012 - 12:00am

280b yuan to build basic services

State-owned enterprises and local governments on the mainland plan to spend more than 280 billion yuan (HK$344.11 billion) on infrastructure projects in the next four years.

'The government is clearly looking to publicly funded infrastructure to support growth this year,' said Andrew Batson, research director of Dragonomics, a mainland-based economic research house.

21 Jun 2012 - 12:00am

Ministry's massive debt tipped to get a lot worse

The Ministry of Railways' huge debt will continue to increase, and rising costs will hurt its profitability, a state credit rating agency warns.

'The debt of the railways ministry will continue growing because rail construction projects will still need debt financing,' Dagong Global Credit Rating said in its report on the ministry's first short-term bond issue this year.

15 May 2012 - 12:00am

Railways ministry reform under way

China's Ministry of Railways has been stripped of its powers to hear transport cases in its own courts.

In a move welcomed by critics of the ministry's power, the jurisdiction of the China Court of Railway Transportation has been transferred to local governments.

8 May 2012 - 12:00am

Rail shares fall in HK as ministry posts loss

Hong Kong shares of mainland rail firms fell after reports that the Ministry of Railways suffered a loss in the first quarter.

China Railway Group shares dived 4.6 per cent to HK$2.88 yesterday, while China Railway Construction Corporation (CRCC) dropped 3.2 per cent to HK$6.08, and CSR Corporation dipped 0.5 per cent to HK$6.18.

4 May 2012 - 12:00am

Drop in transport funding may signal hard landing

In further evidence that the mainland economy might be heading for a hard landing, the Ministry of Transport warned that transport infrastructure funding faces difficulties this year, after investment in roads, railways and other transport infrastructure all fell in the first quarter.

24 Apr 2012 - 12:00am

Railway builders forecast earnings drop this year

China Railway Group and China Railway Construction Corporation (CRCC), the companies that build most of the mainland's railways, expect lower earnings this year amid sharp falls in the nation's spending on railway projects.

The state-owned companies are listed in Shanghai and Hong Kong.

9 Apr 2012 - 12:00am

Ministry to be 'more flexible' on rail plans

Financial difficulties have forced the Ministry of Railways to loosen its grip on the development of local high-speed rail networks, according to an industry expert close to top decision makers.

30 Mar 2012 - 12:00am

Section of high-speed railway collapses

An unopened section of a high-speed railway in Hubei province has collapsed due to heavy rains - the latest in a string of mishaps to hit the network since the fatal collision last summer in Wenzhou .

13 Mar 2012 - 12:00am

Snow threatens last-minute dash home

Tens of millions of travellers were making last-ditch efforts to rush home for Lunar New Year's Eve reunion dinners today, even as heavy snow was falling across seven provinces.

22 Jan 2012 - 12:00am

Quest for speed on rail network proved costly

Beijing has sacrificed safety for speed in building the world's largest and fastest high-speed rail network, and the report of the investigation into July's deadly crash in Wenzhou - released last week - offers a rare insight into what has gone wrong.

1 Jan 2012 - 12:00am