China Invests $ 207 Billion in Transportation Infrastructure in the First Half of the Year

China made a billion dollar investment in its transportation infrastructure in the first half of the year
China made a billion dollar investment in its transportation infrastructure in the first half of the year

According to the Ministry of Transport, the investment in China's transport sector infrastructure reached 6 trillion yuan ($ 1.45 billion) in the first half of the year, up 207 percent year on year. Thanks to these investments, the transportation sector, which experienced a decline in the pandemic period, recovered in a short time.

The country's investment in road and waterway construction increased by 7,8 percent to 1,08 trillion yuan from January to June, ministry spokesman Sun Wenjian said at a press conference. Investment in railway infrastructure reached 325 billion yuan in the past six months, while civil aviation infrastructure reached 40 billion yuan, representing more than 40.1 percent of annual targets, he added.

At the meeting, construction has resumed on all 625 major transportation projects and 430 new road and waterway projects have been launched to cushion the economic blow from the coronavirus, spokesman Sun said, adding that the country will continue to expand investment in the transportation sector and support the construction of major transportation projects including the Sichuan-Tibet Railway and the Beijing-Xiong'an Highway.

In the first half of the year, 36 billion passenger travels were made in 48 major cities of the country, with a decrease of more than 16.9 percent compared to the same period of the previous year. However, the figure in June regained about 69 percent of last year's volume and increased by more than 37 percent from the end of the first quarter.

Hibya News Agency