China plans to build the first high-speed rail link between Beijing and Moscow, the People's Government of Beijing City said on Wednesday.

The Government's press office posted on its Sina Weibo account, a Twitter-like microblogging platform, that the proposed cross-border high-speed rail would run for more than 7,000 km and span three countries, China, Kazakhstan and Russia.

About 1.5 trillion yuan ($242 billion) was expected to be invested into the new line that would cut train travel time from Beijing to Moscow to two days. Currently, the travel time is six days, according a The Beijing Times' report from October, 2014.

The Beijing-Moscow high-speed rail project was proposed during Chinese Premier Li Keqiang's official visit to Russia in October, 2014.

At the 19th China-Russia Prime Ministers' Regular Meeting, Li said that China was ready to advance the establishment of a Eurasian high-speed transport corridor linking Beijing and Moscow.

China Daily reported earlier that the China-Russia high-speed corridor would be a key project in the Silk Road economic belt China plans to construct.

The Belt concept was introduced in 2013. The Belt covers China and Central Asian Countries, aiming to deepen the connection between China and those countries.