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China railway expects revenue to rebound to pre-pandemic level in 2023

01/05/2023| 2:42:47 PM|

The rail operator also noted that it plans to put into operation 3,000 kilometers of new lines.

China State Railway Group, the national railroad operator, said it expects revenue to rebound this year to the pre-pandemic level of 2019 after the country lifted travel restrictions.

Revenue will likely jump 18% to RMB 817.5 billion (USD 118.6 billion) in 2023 from last year, the Beijing-based company said at a work meeting held on Tuesday.

Passenger and cargo throughputs are expected to jump 67.6% and 1.8% to 2.7 billion people and 4 billion tons, respectively, this year from 2022, the state-owned firm added.

The rail operator also noted that it plans to put into operation 3,000 kilometers of new lines, 2,500 km of which will be high-speed links. Last year, the figures were 4,100 km and 2,082 km, respectively.

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TAGS: China State Railway Group | revenue
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