BEIJING — China’s transport investment remained stable in the first half of the year due to continued government efforts to improve infrastructure.
More than 1.3 trillion yuan (about $195 billion) was pumped into transport projects in January-June period, largely stable compared with a year ago, according to data provided by the Ministry of Transport.
Investment in expressways, which totaled 430 billion yuan, grew vigorously at 12.8 percent year-on-year. The construction of rural roads saw nearly 200 billion yuan of investment, up 1.8 percent.
Infrastructure investment is significant to people’s livelihoods and steady economic growth. The country plans to spend at least 2.6 trillion yuan on transport infrastructure this year, with goals to further expand rail and road networks.
By 2020, China aims to have a modern transportation system that is safe, convenient, efficient and green.
Premier Li Keqiang asked earlier this week for faster construction of the Sichuan-Tibet railway during an inspection tour in its Lhasa-Nyingchi section. With total investment of 270 billion yuan, the railway is a major project included in the country’s 13th Five-Year Plan period (2016-2020).