Jane Chen / Shanghai Daily news

China plans to buy 60 bullet-trains developed by East Japan Railway Co. as part of its railway modernization, in a bid to double the speed on five lines in east China, today's Eastday.com reported.
The lines, including one between Beijing and the north-eastern industrial city of Shenyang and one from Qingdao to Jinan in eastern Shandong province, stretch for more than 1,200 miles, according to a previous Xinhua report. The contract may be worth US$12 billion.
Citing the Japanese Kyodo News, the Eastday report quoted sources close to the deal as saying that the trains will be based on JR East's Hayate Shinkansen train, which is able to run at a peak speed of 275 kilometers per hour. 
The orders will go to a consortium of Japanese companies headed by Kawasaki Heavy Industries Ltd. Kawasaki spokesperson Masahito Kodera was quoted as confirming that his company is in talks with China on the deal, but refused to confirm the value of the deal.
"Negotiations are continuing, therefore it's inappropriate for me to comment on the details," he said. Kawasaki won a rolling-stock contract from China last year as part of the latter's railway upgrade program.