China’s National Development and Reform Commission (NDRC) announced an investment of RMB474.1bn ($68.5bn) to launch rail projects in the Guangdong‑Hong Kong‑Macao Greater Bay Area.
The 775km rail plan includes 13 intercity railways and five terminal projects, and the macro plan has established that the Shenzhen airport and Pingshan railway, an extension of the Guangzhou‑Qingyuan intercity railway, four other railways, and three railway hubs, will be launched before 2022. Although no steel estimates have been released, the project will significantly bolster steel consumption in the region.
The NDRC recently issued a letter to the provinces’ development and reform commissions, municipalities, and regions that outlined a plan to undertake the smart transformations of towns. The mandate will also increase housing construction and business facilities.