China’s fixed asset investment (FAI) in railways is expected to reach a historical high of 850bn yuan in 2019. Also, China Railway Corporation recently raised the target for newly added operating mileages to 6,800km in 2019, an increase of 45% compared with previous year. Furthermore, China also rise the 2019 special bonds quota to 2.15 trillion yuan, up 60% year-over-year compared with 1.35 trillion yuan in 2018, enabling local authorities to start issuing debt for infrastructure projects in order to stimulate economy. According to the Outline of the Development Plan for the Greater Bay Area, the interconnection of regional infrastructure will be speeding up. It is also expected to have a positive impact on railway sector which provides medium-to-long term investment opportunity for investors.


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