China’s transport investment remains stable in Q1

2019-04-22
Xinhua

BEIJING — China’s fixed-asset investment (FAI) in transport posted steady growth in the first quarter, official data showed.

FAI increased 3.3 percent year-on-year to reach 372.2 billion yuan (about $55.5 billion) in the period, the Ministry of Transport said in a statement.

Road construction took the lion’s share of FAI with an inflow of 350.5 billion yuan in the first three months, a year-on-year growth of 2.7 percent.

Meanwhile, coastal construction recorded the fastest growth rate of 26.1 percent, according to the ministry.

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.