China Approves $ 39 Billion Railway Projects: China has approved $ 39 billion of rail projects. China's State Planning Agency announced that six railway projects have been approved. The projects, all of which have been approved for this year, include investments in 4 high-speed rail links and two city transit connections. The government is increasing investment in infrastructure to support economic growth. The Chinese economy grew 7 percent in the first quarter, showing the worst quarterly performance of six.