The Chinese rail operator plans to carry 2.69 billion passengers in 2023, with revenue expected to return to 2019 levels, according to an annual industry workshop held on Tuesday that set 2023 targets and reviewed 2022 operations. It is reported by Railway Supply magazine with reference to the Global Times.

China Railway

China State Railway Group Corp. said at the meeting that its goal by 2023 is to reach 817.5 billion yuan ($118.5 billion) in business revenue, up 18 percent from 2022, and restore overall revenue to 2019, according to a statement sent by China Railways. The company expects to carry 2.69 billion passengers in 2023, up 67.6% from last year, and send 3.97 billion tons of cargo, up 1.8%.

The CIS countries adopted the tariff policy of railways for the transportation of goods in 2023

The Chinese railway will increase the construction of national railways. A total of 102 railway projects are planned for 2021-2025 under China’s 2035 national economic and social development vision. In 2023, more than 3,000 km of new railway lines will be put into operation, including 2,500 km of high-speed railways.

In 2022, China invested 710.9 billion yuan in railways and put into operation 4,100 km of new railway lines, including 2,082 km of high-speed railways. As of the end of 2022, China had 155,000 km of railways in operation, including 42,000 km of high-speed lines.

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