In 2006, it was estimated that the line would cost between CN¥130 billion (US$16.25 billion) and ¥170 billion ($21.25 billion). The following year, the estimated cost had revised to ¥200 billion ($25 billion), or ¥150 million per kilometer. Due to rapid rises in the costs of labor, construction materials and land acquisitions over the previous years, by July 2008, the estimated cost was increased to ¥220 billion ($32 billion). By then, the state-owned company Beijing–Shanghai high-speed railway, established to raise funds for the project, had raised ¥110 billion, with the remaining to be sourced from local governments, share offerings, bank loans and, for the first time for a railway project, foreign investment. In the end, investment in the project totaled ¥217.6 billion ($34.7 billion).