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China pledges RMB1.8trln investment in roads and waterways this year

February 21, 2020


Abstract : China will make efforts to complete the annual task of investing 1.8 trillion yuan (about 256.3 billion U.S. dollars) in roads and waterways this year, according to a meeting chaired by Minister of Transport Li Xiaopeng on Thursday.

BEIJING, Feb. 21 (Xinhua) -- China will make efforts to complete the annual task of investing 1.8 trillion yuan (about 256.3 billion U.S. dollars) in roads and waterways this year, according to a meeting chaired by Minister of Transport Li Xiaopeng on Thursday.

The country has set targets of investing 800 billion yuan on railway, 1.8 trillion yuan in roads and waterways and 90 billion yuan in civil aviation this year, said the Ministry of Transport (MOT) at a meeting outlining its work plan for this year, which was held in December last year.

At the end of 2019, the MOT issued the first batch of the fixed asset investment in transport sector for this year, including 41.92 billion yuan investment in road construction and 7.14 billion yuan investment in the port construction.

The Thursday meeting also required construction resumption of some transport projects in areas not heavily affected by the epidemic as soon as possible, if the weather conditions meet the construction requirements.

Data from the China State Railway Group Co., Ltd. (China Railway) shows that a total of 17 railway projects including the Beijing section of the Beijing-Shenyang high-speed railway, the Daxing Airport-Xiongan section of the Beijing-Xiongan intercity railway, and the Lhasa-Nyingchi railway had resumed construction by February 18. (Edited by Hu Pingchao, hupingchao@xinhua.org)

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Keyword: investment transport

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