Center

China pumps US$119bln into transport

(Xinhua)
Updated: 2006-11-26 08:50

China's fixed-assets investments in the transport sector are scheduled to reach 938.4 billion yuan (119 billion U.S. dollars) this year, a growth of 18.4 percent year-on-year.

The figures were provided by Zhang Mao, deputy head of the State Development and Reform Commission, at a national meeting on communications development held recently in Guiyang, capital city of southwest China's Guizhou Province.

According to Zhang, the transport sector invested 612.4 billion yuan (78 billion U.S. dollars) in fixed assets in the first three quarters of this year, up 25.96 percent over a year earlier.

Of the total, 124.2 billion yuan (16 billion U.S. dollars ) went to railway construction and upgrading, up 100 percent, 418.3 billion yuan (53 billion U.S. dollars) went to highway projects, up 12.7 percent, and 43.9 billion yuan to coastal harbor construction, up 37.4 percent.