The National Development and Reform Commission (NDRC) confirmed that the state council, or cabinet, has approved a new Beijing-Shanghai high-speed rail project.

The state planer did not provide details in a statement published on its official website, but state media reported that the 1,318 kilometer line could cost over 200 bln yuan.

The line could see trains reaching speeds of up to 350 km per hour, and will reduce the travel time between Beijing and Shanghai to less than five hours from the current 10 hours, reports said.

Construction on the project is expected to start soon.