The railway ministry is now reporting a rare, pre-tax loss of 3.7 billion yuan, or 580 million US dollars in the first quarter.
In its financial report, the ministry says it has 3.41 trillion yuan in total assets by the end of March and 1.99 trillion yuan in total liabilities.
The ministry of railway has already revealed that its after-tax profits were 2.7 billion yuan in 2009, following 12.95 billion yuan worth of losses in 2008 and 8.7 billion yuan in profits in 2007.
Its 2010 financial report will be released after being audited.
