Summary：China will increase railway fix-asset investment (FAI) in 2013, with plans to surpass the US$100.91 billion (RMB630 billion) spent on rail lines this year, Caixin reported.

China will increase railway fix-asset investment (FAI) in 2013, with plans to surpass the US$100.91 billion (RMB630 billion) spent on rail lines this year, Caixin reported. A spokesman for the Ministry of Railways said that investment in railway infrastructure alone will be more than US$80.09 billion next year. Increased investment in railways will continue until 2015, he said. Since June, the ministry has increased the FAI spending target four times. During the first 10 months of this year, China spent US$68.11 billion on railway FAI, 0.9% less than the same period in 2011. Investment jumped in October with total FAI hitting US$13.13 billion and railway infrastructure outlays reaching US$11.18 billion, up 240% year-on-year. About US$32.81 billion of this year's railway budget remains unspent, and further investment is expected during November and December.