May. 16, 2012 (China Knowledge) - China saw its fixed-asset investment in the railway sector fall 48.3% year on year to RMB 89.60 billion in the first four months of this year, according to the latest statistics released by the Ministry of Railway (MOR).

Investment in railway infrastructure saw a decline of 54.1% year on year in the four-month period, reaching RMB71.71 billion during the ten-month period.

The ministry earlier announced plans to allocate RMB 500 billion for fixed-asset investment in the railway sector this year, including RMB 400 billion in infrastructure construction.

The MOR expected 6,366 kilometers of new railway to start operation in 2012.

In 2011, the country's fixed-asset investment in the railway sector fell 30.1% YoY to RMB 586.31 billion, of which RMB 461.08 billion was in infrastructure construction.