China's national railway fixed-asset investment reached 410.2 billion yuan (approximately 57.21 billion U.S. dollars) from January to July 2024, marking a year-on-year growth of 10.5 percent, according to the China State Railway Group.
In July, key railway construction projects continued to make steady progress. The Rizhao-Lankao High-Speed Railway was fully completed and put into operation, significantly reducing travel time between Shandong and the Central Plains urban agglomerations.
Several railway projects, including the Xuancheng-Jixi High-Speed Railway, the Huinong-Yinchuan section of the Baotou-Yinchuan High-Speed Railway, and the Zhenjiangguan-Huangshengguan section of the Chengdu-Xining Railway, began joint testing and commissioning in July.
Hangzhou-Wenzhou High-Speed Railway started trial operations in July.
"China State Railway Group will focus on enhancing railway network connectivity. We will accelerate the construction of major projects such as the Chongqing-Kunming High-Speed Railway, the Shanghai-Chongqing-Chengdu Riverside High-Speed Railway, and the Huangtong-Baise Railway. These efforts aim to continuously improve the interconnectivity of railway infrastructure, providing strong support for the high-quality development of the national economy and society," said Deng Lihong, deputy director of the Development Strategy and Planning Division of the group.
China's railway fixed-asset investment reaches 410 bln yuan from January to July
U.S. President Donald Trump on Thursday threatened a retaliatory 200-percent tariff on imports of alcoholic drinks from European Union (EU) unless the EU removes its 50-percent tariff on American whiskey.
If this Tariff is not removed immediately, the U.S. will shortly place a 200-percent tariff on all wines, champagnes, and alcoholic products coming out of France and other EU represented countries, Trump wrote in a post on Truth Social.
The European Commission announced on Wednesday that it will impose retaliatory tariffs on 26 billion euros' (28 billion U.S. dollars') worth of U.S. goods starting next month, as a countermeasure against the U.S. 25-percent tariffs on European steel and aluminum that took effect on Wednesday. The EU tariffs would impact U.S. agricultural products as well as American whiskey.
European Commission President Ursula von der Leyen and European Commissioner for Trade and Economic Security Maros Sefcovic said that the countermeasures will be introduced in two steps - starting on April 1 and fully in place on April 13.
Laurent Saint-Martin, France’s Minister Delegate for Foreign Trade and French Nationals Abroad, said on Thursday that France will not yield to the U.S. threat of imposing 200-percent tariffs on EU alcohol products and is determined to fight back alongside its EU partners.
U.S. Treasury Secretary Scott Bessent said Thursday in an interview with U.S. channel CNBC that the Trump administration is currently targeting “strategic industries” such as steel, aluminum and “likely autos” for tariffs. “But everything else is up for grabs,” he said.
Trump threatens to impose 200-pct tariffs on EU alcohol products
