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China’s transport investment surges 17% in Jan-Feb

Updated: Apr 5,2015 9:49 AM     Xinhua

BEIJING — China invested 176.3 billion yuan ($28.7 billion) on construction of railways, roads and waterways in the first two months of 2015, up 16.9 percent year-on-year, latest data revealed.

In break-up, railways investment during the period hit 46.2 billion yuan, up 8.2 percent; roads investment stood at 116.4 billion yuan, up 15.9 percent while waterways investment reached 13 billion yuan, up 85.5 percent year-on-year, according to data released on April 3 by the Ministry of Transport.

The ministry said the sharp rise in waterway investment in the first two months was due to a low base in the same period last year.

The data also showed that the nation’s railways, roads, and waterways recorded 3.67 billion passenger trips in the Jan-Feb period, down 2.9 percent year-on-year. The ministry did not specify reasons to the decline, but said road trips declined the most, dropping 3.5 percent year-on-year.

Meanwhile, the volume of freight transport during the period hit 5.96 billion tonnes, up 9.2 percent year-on-year, the data showed.