The investment agreement for the Hangzhou-Shaoxing-Taizhou railway public-private partnership project was signed in Hangzhou of Zhejiang province on Monday, marking China's first high-speed train line with private investors taking the controlling stake.

PPP refers to a partnership between government and privately owned enterprises in developing infrastructure and public services projects, mainly covering municipal engineering and transportation.

Stretching some 269 kilometers, the railway line will include nine stops. The train's maximum speed will be 350 kilometers per hour. It is one of the eight railway projects involving private investment approved by the National Development and Reform Commission, China's top economic regulator.