Economy

China to invest 6.2t yuan in transportation

(Xinhua)
Updated: 2011-05-26 16:09

BEIJING -- China plans to spend 6.2 trillion yuan ($954 billion) to upgrade its transportation infrastructure during its 12th Five-Year Plan period (2011-2015), an official said Thursday.

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The figure was compared to a previous investment of 4.7 trillion yuan in the sector during the 2006-2010 period, Sun Guoqing, director of the comprehensive planning department of the Ministry of Transport, said during a press conference.

The money will pay for the construction of road and waterway transportation facilities, with road construction accounting for a large part of the budget, Sun said.

According to a development plan released by the ministry at the conference, China will construct 108,000 kilometers of highway during the 12th Five-Year Plan period.

By the end of 2015, the country's highway network will cover more than 90 percent of cities with populations of 200,000 people or more, according to Sun.