The bond quota issued by the National Development and Reform Commission, China's top economic-planning body, will be used to help the ministry finance the maintenance and construction of a rapidly expanding railway network.

WSJ: China's Railway Ministry Gets Approval for Bonds

The bank suggests that Beijing dissolve the Ministry of Railways, and replace it by setting up various railway companies to run the giant network, while the policy-making functions should be transferred to a new bureau under the Ministry of Transport.

BBC: China morning round-up: Inflation and economy discussed

China's railway ministry saw infrastructure investment fall 39% in the first half of 2012 from a year earlier.

WSJ: China Heads to Soccer Field

Southern Metropolis Daily reports that the newly-established National Railway Bureau will keep 130 former railways ministry staff and transfer hundreds of other staff to its commercial arms or local branches by June.

BBC: China media: Debate on North Korea

The railway ministry, which is China's largest corporate-bond issuer, used all of last year's quota for long-dated bonds and also raised an additional 50 billion yuan via short-term bills and medium-term notes.

WSJ: China's Railway Ministry Gets Approval for Bonds

The new structure will place construction and the management of services under the new China Railway Corp, while safety and regulation will come under the transport ministry.

BBC: Travellers at the Beijing West Railway Station, Jan 2013

Railways Minister Sheng Guangzu sidesteps questions from The Beijing News about rumours surrounding a merger of the railway and transport ministries, but says more private investment is needed to help ease his ministry's massive debts from building high-speed railways.

BBC: China media: NPC spokeswoman praised