Quotable

"Reception fees have increased in accordance with operational needs, as the company has expanded fast and market competition has increased."

China Railway Construction Corporation admitted on Wednesday its spending on receptions in 2012 was high, and vowed to take measures to control the costs. The statement came after reports detailing its 837 million yuan ($135 million) in reception fees led to public criticism targeting the management of the State-run company listed in Shanghai and Hong Kong. The total cost was an aggregate of more than 11,000 CRCC units in over 60 countries and regions, with the spending of each unit averaging 76,000 yuan, it said.