China's railway operator plans to carry 2.69 billion passengers in 2023, with expected revenues to return to the level of 2019, according to an annual industry work meeting held on Tuesday, which set goals for 2023 and reviewed operations in 2022.
China State Railway Group Corp (China Railway) said at the meeting that its 2023 target is to achieve 817.5 billion yuan ($118.5 billion) in business revenues, up 18 percent over 2022, and restore overall revenue to the level of 2019, according to a statement China Railway sent to the Global Times.
While ensuring safety, the company expects to carry 2.69 billion passengers in 2023, up 67.6 percent year-on-year, and ship 3.97 billion tons of goods, up 1.8 percent. In 2022, 1.61 billion rail passenger trips were made.
China Railway will ramp up national railways construction including the Sichuan-Xizang Railway and a total of 102 railway projects are planned in the Outline of the 14th Five-Year Plan (2021-25) for National Economic and Social Development and Vision 2035 of China.
More than 3,000 kilometers of new railway lines will be put into operation in 2023, including 2,500 kilometers of high-speed railways.
In 2022, China completed 710.9 billion yuan of capital investment in railways and put 4,100 km of new railway lines into operation, including 2,082 km of high-speed railways.
As of the end of 2022, China had 155,000 kilometers of railways in operation, including 42,000 kilometers of high-speed lines.
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