The China Development Bank (CDB) Zhejiang branch signed a deal with the Zhejiang Provincial Railway Investment Group Co. Ltd. (ZPRIG) on January 9, 2008. According to this deal, the CDB will lend the ZPRIG 3 billion yuan to build the Nanjing-Hangzhou, Shanghai-Nanjing and Hangzhou-Shanghai railways in the Yangtze River Delta region, the Caijing Magazine reported.

When these railways are finished, it will only take 72 minutes to travel between Shanghai and Nanjing, 60 minutes between Nanjing and Hangzhou and 50 minutes between Hangzhou and Shanghai.

For more details, please read the full story in Chinese. (http://www.caijing.com.cn/home/headline/2008-01-15/45339.shtml)

(China.org.cn January 15, 2008)