A fund allocation application for building the Guangzhou-Shenzhen-Hong Kong high-speed railway was approved by the Legislative Council of the Hong Kong Special Administrative Region on Saturday, Hong Kong-based Wenweipo reported.

The railway is expected to take passengers to major mainland cities, including Beijing and Chongqing, within 10 hours and bring the region economic benefits of 78 billion yuan to 106 billion yuan during the first 50 years after the project is completed.

Terminal stations will be located at West Kowloon in Hong Kong and at Shibi in Guanghzou. A ride from Hong Kong to Guangzhou on the high-speed train will be halved to 48 minutes.