According to the plan, the issuance scale of China Railway Construction Bonds in 2013 is 150 billion yuan. The raised funds will be used for 73 railway construction projects, including the Harbin-Qiqihar Railway Passenger Dedicated Line. In addition, in July the central bank also issued a document requiring that various debt financing instruments newly issued by China Railway Corporation and those originally issued in the name of the Ministry of Railways be classified as government-supported agency bonds. This follows the State Council's call to actively support railway and other major infrastructure and livelihood projects and cultivate new industrial growth points. This means that China Railway Corporation, after the separation of government and enterprise, has received government-level encouragement for developing railways. At the same time, some analysts pointed out that under the weak economic growth situation, railway construction can absorb some outdated production capacity, such as steel and cement. In addition, urbanization cannot be separated from rail transit, and infrastructure, especially railway construction, may accelerate again.

　　In addition, judging from the completion of railway investment targets in the first half of the year, railway fixed-asset investment and capital construction investment completed only 33.22% and 35.96% of the annual task in the first half. Railway investment for the whole year will inevitably be “low in the first half and high in the second half,” and railway construction investment will further gain momentum in the second half. A relevant person from China Railway Corporation said that there is no problem for the corporation to complete the investment task of 650 billion yuan, and it does not rule out the possibility of exceeding it. By the end of 2013, the total railway operating mileage nationwide will exceed 100,000 kilometers, and the total operating mileage of high-speed rail will exceed 10,000 kilometers.

　　However, China Railway's total liabilities in the first quarter were 2,839.4 billion yuan, with a debt ratio of 62.31%. Regarding the pressure of old and new debt, Shen Zhengyuan, a researcher in the circulation industry at CIC Consulting, said that the railway debt problem is difficult to solve in the short term but will not decline too much, and subsequent railway investment and construction still need to be completed. Bond issuance and bank loans remain the main channels, and diversified reform of railway investment and financing and operational reform are expected to improve operational capacity.