About half of the bribes taken by a former top railways executive came from other state-owned railway companies, prosecutors have said, painting a damning portrait of rampant corruption in the sector.Sunday, 30 December, 2012, 5:24am
Analysts said likely targets for absorption into expanded "superministries" include the massive Railways Ministry, which was spared consolidation into the Transport Ministry five years ago in the face of fierce resistance from the former railways minister Liu Zhijun.21 Nov 2012 - 12:46pm
The central government is working to reform the nation's rail industry and encourage more private investment in the sector, but analysts warn it's going to be a long and arduous task.
"I think the government wants to reform the Railways Ministry slowly. There are many things that hinder reforms," said Guotai Junan Securities analyst Gary Wong.12 Aug 2012 - 10:07pm
Noted film director Zhang Yimou was paid 2.5 million yuan (HK$3.06 million) for his involvement in an 18.5 million yuan promotional video for the Railways Ministry that has further cast the office in a negative light amid mounting public criticism, mainland media reported yesterday.31 Jul 2012 - 12:00am
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
Spending by the mainland on railway construction was 76 per cent lower in January than a year earlier as funding shortages for the sector persisted. Just 8.73 billion yuan (HK$10.74 billion) was invested in expanding the network.16 Feb 2012 - 12:00am
Despite having been thrown a 300 billion yuan (HK$366 billion) lifeline, the mainland's cash-strapped rail sector is having to issue bonds to repay debts, and the slump in rail spending accelerated in November.
China Railway 25th Bureau Group plans to issue 200 million yuan of one-year bonds on December 22, of which 85 per cent will be used to pay off debts.16 Dec 2011 - 12:00am
The central government will open bidding for multibillion-yuan railway projects through third-party platforms to make the process more competitive and reduce corruption.
Xinhua and the People's Daily yesterday said former railways minister Liu Zhijun had been linked to corruption in tendering for high-speed railway construction projects.22 Nov 2011 - 12:00am
The mainland's Ministry of Railways will be heavily indebted next year despite a cash injection of 200 billion yuan (HK$245 billion), with little choice but to slash spending, an analyst predicts.19 Nov 2011 - 12:00am
The Railways Ministry has ruled out privatising the heavily indebted state-owned industry amid growing concern about its financial health.11 May 2011 - 12:00am