China's Fixed Asset Investment in Transportation Surpasses 310 Trillion in First Half of Year

[Image source=EPA Yonhap News]

[Asia Economy Reporter Kim Hyunjung] As China intensifies infrastructure investment to boost economic growth, fixed asset investment in transportation in the first half of the year has exceeded 1.6 trillion yuan (approximately 310 trillion won).

On the 3rd, the Chinese state-run People's Daily cited an announcement from the Ministry of Transport of China, reporting that fixed asset investment in local transportation in the first half of this year reached 1.6 trillion yuan, a 6.7% increase compared to the same period last year.

In the first half of the year, about 170 new projects for expressways, general national roads, and local roads were constructed in China, covering a total area of 4,800 km with a total investment of approximately 291 billion yuan. As of the end of June, reconstruction projects for expressways, general national roads, and local roads totaled 87,000 km, with more than 2,000 projects underway. The related cumulative investment is estimated at about 7.3 trillion yuan.

Maritime transport projects are also accelerating. The People's Daily reported that in the first half of the year, the fourth phase of Suzhou Port Taichang Port, and the automated renovation projects for berths 7 and 8 in the southern operational area of Qinzhou Port Dalanping were completed. Additionally, the Yangtze River mainline waterway improvement project between Chaotianmen and Puling, the waterway bypass project connecting the Yangtze River to Huaihe River, and the second phase of the 3,000-ton waterway project from Shichang Guigang to Wuzhou are progressing rapidly.

Furthermore, the People's Daily explained that the comprehensive passenger transport hub project at Huanghua Airport in Changsha, Hunan, has surpassed 30% progress, and the core of the Hangzhou Western Comprehensive Passenger Transport Hub, an important transportation support project for the Hangzhou Asian Games, has been completed.

This content was produced with the assistance of AI translation services.