CHINA China's investment in highways, waterways up 3.8 pct in Jan.-July

CHINA

China's investment in highways, waterways up 3.8 pct in Jan.-July

Xinhua

15:22, August 25, 2019

China's fixed-asset investment (FAI) in highways and waterways registered steady growth in the first seven months of this year, official data showed.

china highway.jpg

File photo shows highway linking Lhasa and Nyingchi in China's Tibet Autonomous Region. (Photo: Xinhua)

Total FAI in highways and waterways reached 1.21 trillion yuan (about 170.98 billion U.S. dollars) during the January-July period, a year-on-year growth of 3.8 percent, the Ministry of Transport (MOT) said in a report on its website.

Specifically, investment in highways expanded 4 percent to reach 1.14 trillion yuan, while that of coastal construction recorded the fastest growth rate of 4.4 percent to 29.29 billion yuan during the period, the MOT said.

The FAI growth rate registered in central regions hit 11.1 percent year on year for the first seven months, which was much higher than that of western and eastern China.

China will expand infrastructure investment in 2019, including 800 billion yuan in railway construction and 1.8 trillion yuan in road construction and waterway projects, according to a government work report.

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