China fires railway officials for “trash” projects

Another scandal is testing investor confidence in China’s troubled railway industry, but one rail company is nevertheless pushing ahead with a $2.3 billion Shanghai IPO.

China fires railway officials for “trash” projects

China has fired at least 10 railway officials over a sub-standard Rmb2.3 billion $360 million construction project that involved bridges filled with trash instead of concrete, and builders without any relevant experience, including one team led by a cook.

The scandal has reignited criticism of China’s railway industry, which has been troubled by safety and management problems. China’s railways ministry dismissed three senior officials after a deadly train crash that killed 35 people in east...

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