Perspective: China is suffering terribly from the out of control debt used to build their high speed rail system and incidents are being systematically covered up rather than used to improve reliability of service. It's a trillion dollar blow out, not the great success that so many claim it to be.
Their foreign creditors presumably can't repossess the HSR lines and take them overseas, and the domestic creditors should be easy for the state to control. Maybe they'll pay back the money, maybe they won't. In the meantime and long after, the trains will run and generate real value for Chinese people and institutions.
This is totally fine if you want to destroy foreign and indeed domestic investment. The China Railway Corporation has $859 billion in debt, twice that of Evergrande, which was a disaster.