国内英语新闻:Chinese rating agency Dagong defends its rating on railways ministry

The operational cash flows have continued to grow, making the ministry invulnerable to default risks due to management problems, the statement added.

Safety concerns aroused by the accident prompted the State Council on Wednesday to order slower running speeds of bullet trains for safety and cuts in ticket prices on affected lines.

Dagong said the losses from the accident are not big enough to hurt the ministry's ability to repay its debt.

"Cheaper tickets will attract more passengers to take trains, which will offset the losses from lower ticket prices," it said, adding slower speeds will reduce cost for train maintenance.

In addition, Dagong said China will continue to ramp up investment in construction of railways, which will improve the ministry's repayment ability and credibility.

The State Council on Wedneday reiterated its stance on railways, saying "China will unswervingly continue its development of high-speed railways."

The ministry's spokesperson Wang Yongping said in May that the ministry's total investment this year will reach 745.5 billion yuan, with 600 billion yuan going to infrastructure construction.

China plans to invest 2.8 trillion yuan in the railway sector in the 2011-2015 period during which the length of its high-speed railways are expected to expand to 45,000 km.