BEIJING: China’s fixed-asset investment (FAI) in transport posted steady growth in the first 10 months of this year, the country’s transport ministry said Monday.
FAI increased 0.7 percent year on year to reach 2.6 trillion yuan (about 375 billion U.S. dollars) in transport in the period, the Ministry of Transport (MOT) said in a statement.
Investment in the country’s roads reached 1.76 trillion yuan in the first 10 months.
MOT data shows that FAI in expressways and rural roads expanded 11.6 percent and 1.5 percent year on year in the period, respectively.
By 2020, China aims to have a modern transportation system that is safe, convenient, efficient and green.
The country plans to spend around 2.6 trillion yuan on transport infrastructure in 2018, with goals to further expand railway and road networks, especially in poverty-stricken areas.