Workers lay tracks on the Hangzhou-Shaoxing-Taizhou High-speed Railway in Linhai, Zhejiang province, on Feb 1, 2021. Connecting three major cities in Zhejiang, it is China's first high-speed railway in which private capital holds a majority of shares. (Photo: Xinhua)

HANGZHOU - China's first high-speed railway controlled by private capital has been built to connect several cities in East China's Zhejiang province.

On Tuesday, the tracks were completed for the Hangzhou-Shaoxing-Taizhou intercity railway, one of China's first group of high-speed railway projects funded by a public-private partnership (PPP), with the private sector having a holding status.

With a total investment of nearly 44.9 billion yuan (about $6.95 billion), the 266.9 km rail line has been designed with eight stops and a speed of 350 km per hour.

The new rail line will be opened by the end of this year and will be connected to the high-speed railway network in the Yangtze River Delta region. It will halve the travel time between Hangzhou and Taizhou to approximately one hour.