A consortium of eight companies led by Fosun Group, China, will hold a 51% stake in the Yuan 44.9bn ($US 6.9bn) Hangzhou - Shaoxing - Taizhou high-speed line. The remaining shares will be held by CRC, state-owned Zhejiang Communications Investment Group, and local governments.

Construction of the 269km line is expected to take four years to complete. The concessionaire will build and maintain the railway for 30 years before handing the line over to the government.