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High-speed rail new engine of Chinese economy: HK media  


2014-08-27 17:03 Ecns.cn Web Editor: Si Huan

(ECNS) -- China's high-speed rail, representative of the country's high-tech manufacturing industry, is becoming a new economic growth point on the Chinese mainland as the real estate market cools, according to Hong Kong Commercial Daily.

The report said the influence of high-speed rail on China's economy is no less than that of real estate. It promotes the development of related technology, research and development, manufacturing, construction and labor services, the whole of which can form a massive and integrated industrial chain.

The massive coverage and safety of the high-speed rail network make the mainland more competitive amongst other main economies, it said.

China has obtained rich experience in constructing railways at home, at a cost much lower than in other countries, which offer it more advantage in exporting such technology.

This can also facilitate its export of products and labor, while in return, assist in related industrial transformation and upgrading.

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