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But this year, the bullet train cut his travel time to less than three and a half hours.

Echoing his concerns, BlackRock Investment Institute pointed out in a latest report that the U.S. economic expansion is shifting into "a late-cycle phase" of the business cycle, the final phase before a downturn, as fiscal and monetary stimulus is dissipating while the impact of protracted trade tensions is biting back.

Efforts will be made to push forward the construction of Beijing's new international airport and ensure its opening to air traffic at the end of September this year, Feng said.

Lian Ping, chief economist with the Bank of Communications, attributed the slowdown of CPI to the reduction of gasoline and diesel prices in December.

One of the country's major newly-built railways is the Guangzhou-Shenzhen-Hong Kong Express Rail Link, which started service last year and links Hong Kong with more than 40 cities on the Chinese mainland via direct rail services.