Three-time Oscar-nominated Chinese director Zhang Yimou said he was shocked by allegations of funding violations for a video he helped produce for the rail ministry, which is trying to burnish its image after a crash last year killed 40 people.
China’s state-owned railroad is increasing debt sales by 50 percent, driving yield premiums on its bonds to the highest levels in more than six months, as the world’s biggest high-speed network is rolled out.
Zhu Yi used to nap on the five-hour train ride home to Wuhan from Zhuzhou in central China. Now that a fast rail line has cut the trip to an hour and 40 minutes, he can spend more time selling information-management systems.
China plans to spend at least $1.3 trillion over the next five years to ease transport and freight bottlenecks in the country, creating a windfall for companies from Daqin Railway Co. to Anhui Expressway Co .