China will raise prices on a stretch of its state-of-the-art high-speed rail network in the southeast part of the country, marking the first such increase since 2015 as the operator seeks to strike a balance between supply, demand and its large debt load.
The hikes will see second-class ticket prices rise by 25% to 30% on the stretch of rail between the eastern port city of Ningbo and the southern city of Shenzhen, across the border from Hong Kong, an official with the local rail authority told Caixin, speaking on condition of anonymity. First-class ticket prices will rise by an even steeper 65% to 70%, he said.
...To partly compensate for the price hikes, the rail operator will increase train speeds on the line to 250 kph from a previous 200 kph. Upgrades are currently being made to the line to facilitate such higher speeds, and should be ready by the time new prices take effect on April 21. By comparison, trains on the lines connecting Shanghai and Ningbo run at 300 kph.
S&P: Mortgage arrears leap in January - From S&P: The number of delinquent housing loans underlying Australian prime residential mortgage-backed securities (RMBS) increased in January to 1.29% fr...