Guangzhou to develop rail transit into pillar industry

Southern China's Guangzhou has issued a three-year plan to develop its rail transit industry, vowing to expand its scale to 120 billion yuan (17.8 billion U.S. dollars) by 2021, and realize an output value of 180 billion yuan by 2023.

The city's development and reform commission said Tuesday that the rail transit industry, due to its capital and technology-intensive features, and huge market potential, has become one of the city's priorities.

According to the plan, the city government will promote its major equipment manufacturing capacity, develop standard vehicles with independent intellectual property rights, and build an industrial park and maintenance and manufacturing bases.

A world-class inter-city rail transit network will also be developed in the Guangdong-Hong Kong-Macao Greater Bay Area, said Ding Jianlong, president of Guangzhou Metro Group.