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October 28, 2008

China OKs $292B for railways

SHANGHAI, China (AP) — China's leaders have approved 2 trillion yuan, or $292 billion, in spending on railways construction by 2020, the official Xinhua News Agency said Monday.

The early approval last week by the State Council for the spending is meant to help support faltering economic growth, Xinhua cited a Railway Ministry official, Wang Yong, as saying.


 
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