Nation's top railway operator adds to new projects budget

China's national railway operator announced in a report on Wednesday that it will launch 48 new rail lines this year, a substantial increase from the 44 projects budgeted at the beginning of the year.

"Based on the demands from social and economic development and rail transport, we have decided that 48 new projects ... will be launched this year," said Sheng Guangzu, general manager of the China Railway Corp, in a report by People's Daily on Wednesday.

"More than 7,000 kilometers of new lines will be put into operation this year and an additional 20 billion yuan ($3.2 billion) will be added to the previous budget for this year's railway fixed asset investment."