China will expand the railway network to 150,000 kilometers by 2020, including 30,000 km of high-speed rail, according to the 13th five-year plan (2016-20) for railway construction issued by the nation's top economic regulator on Friday.

The network is expected to cover all cities with population of more than 200,000, and the high-speed railway network is expected to connect more than 80 percent of China's major cities, according to the plan issued by the National Development and Reform Commission.

The total length of China's railway has reached 121,000 kilometers and that of high-speed rail has touched 19,000 kilometers as of 2015.

China will enhance oversight over investment in PPP high speed railway projects, as part of efforts to dissolve financial risks, the plan said.

China will facilitate debt to equity swaps for railway projects with promising returns, the plan added.