The rail transit system in major cities in China is still expanding at an alarming rate.
On March 31, the China Urban Rail Transit Association released the “2017 Urban Rail Transit Industry Statistical Report”, stating that as of the end of 2017, 34 cities in mainland China had built rail transit systems with a total operating mileage of 5,033 kilometers. The newly added operating mileage exceeded 800 kilometers for the first time, and the growth rate also reached a new high in the past four years.
At the same time, the rail transit planning projects approved by the National Development and Reform Commission and local governments have also set a new record. In 2017, the nationwide rail transit system reached 6,246 kilometers. The cumulative investment in the rail transit system approved by the feasibility study report reached RMB 3,875.61 billion. One comparable data is that in response to the global financial crisis triggered by the subprime mortgage crisis in 2008, the State Council's investment plan for saving the economy was 40 billion yuan.