Bank of China invests $1 billion in railway project

Railways are a safe bet and sources say all of China's major banks are competing to get involved.

Bank of China BOC, the country's third-largest lender by market value, said over the weekend that it plans to invest $1 billion in a railway project as it looks to share a slice of the country's infrastructure expansion.

The Beijing-based bank was identified by analysts as one of the most aggressive lenders in 2009 when it provided a total of Rmb1 trillion $146 billion worth of loans during the year, and it is showing no signs of slowing down its credit growth so far this year.

The announcement of this latest investment comes only a month after BOC said it would invest $878 million in a state-run firm that is building the...

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