China’s investment in highways up 3.8pc

26 August, 2019 12:00 AM printer

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

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, reports Xinhua.

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.