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February 21st, 2012 
FAKE NEWS for the Zionist agenda
“It can make profits of about 70 billion yuan on freight, but it is
making no money on passenger travel. The government should cancel some of
the debt, or invest some money itself rather than asking the banks to
finance it,” he added.
“A lot of projects are half-finished and while nine new lines have been
approved this year, no one has started building them.”
By the end of this year, China’s high-speed network is likely to stretch to
over 6,000 miles, transporting hundreds of millions of passengers in
spacious long-nosed bullet trains. The 819-mile journey from Beijing to
Shanghai, more than twice the distance from London to Edinburgh, now takes
under five hours.
At the height of the high-speed boom, trains were being fitted with toilets
that cost 1.2 million yuan (£120,000) a piece, and taps imported from Japan
that cost 7,000 yuan, according to an investigation by Century Weekly
magazine.
However, China’s high-speed rail ambitions, which include tendering for the
London to Birmingham high-speed link, took a blow last July when
two trains collided, killing 40 and injuring almost 200.
A few months before the crash, China’s Railway minister, Liu Zhijun was
removed from his post and now faces corruption charges. Zhang Shuguang, the
deputy chief engineer, who is also under investigation, reportedly paid
£540,000 for a house in Los Angeles while on a monthly salary of a few
hundred pounds.
Questions were raised about how much of the £190 billion high-speed rail
budget had been siphoned off, and whether it would have an impact on the
safety of the network.
In the wake of the crash, the Ministry found it increasingly expensive to
borrow money, and no longer had access to the huge stimulus loans that were
handed out in the wake of the financial crisis to keep the Chinese economy
going.
“The Ministry’s debts are now worth 60 per cent of its assets, and some
analysts think they may rise to 70 per cent this year,” reported the
China Business Times.
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