Xi’s $420 Billion China Rail Push Lures First Private Investment

  • Fosun Group to buy controlling stake in $6.9 billion venture
  • Geely also a partner in Zhejiang high-speed rail project

China’s Fosun Group will be the first private company to operate an inter-city rail service on the mainland as President Xi Jinping’s $420 billion spending drive to modernize the nation’s transportation network lures investors to a sector that’s been controlled by the state until now.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.