HANGZHOU -- China's first high-speed railway controlled by private capital was put into operation on Saturday in East China's Zhejiang province.

Two trains departed from Taizhou Station and Shengzhou Xinchang Station, marking the official opening of the Hangzhou-Shaoxing-Taizhou intercity railway. It is among China's first group of high-speed railway projects funded by a public-private partnership (PPP), with the private sector having a holding status.

With a total investment of nearly 44.9 billion yuan (about $7 billion), the 266.9-kilometer rail line was designed with eight stops and to facilitate speeds of 350 kilometers per hour.

The construction of the railway began in 2017. The track-laying work was completed in June 2021.

At first, the local railway department will arrange 35 pairs of electric multiple unit (EMU) trains.

It takes 63 minutes to travel between Hangzhou and Taizhou at maximum speed.