China has issued a guideline to attract more private investment into the country's railway sector.

The National Development and Reform Commission issued the guideline on Thursday. The statement says China will fully open up its railway industry, encouraging private investors to bid for railway contracts and project management through diversified investment channels.

The government wants to see more private investment in the construction and operation of inter-city and intra-city lines, as well as railways for mining projects.

China Railway Corporation is responsible for building and operating the country's railway network. In the first half of this year, it completed 265 billion yuan of fixed-asset investment, or just one-third of its full-year planned investment.

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