China suspends more than 80% of existing railroad construction projects in the wake of July's...

|By:, SA News Editor

China suspends more than 80% of existing railroad construction projects in the wake of July's fatal high-speed rail crash and last week's collision on Shanghai's line. Safety is an obvious concern, but the alarming debt load of the Railway Ministry weighs as well. "Almost all banks have stopped lending for railway construction," according to a source.