23 April 2015

China to spend 2.5 trillion yuan on transport infrastructure in 2015

17 APR

China's Ministry of Transport says the country will spend more than 2.5 trillion yuan on building transport infrastructure this year, including investing at least 800 billion yuan on railway construction.

During the first quarter of 2015, the Chinese government had already spent 320bn yuan on transport infrastructure, up 15.2 per cent from the same period last year. 

The spending on railway infrastructure and goods, including new purchases of carriages, surged 15.8 per cent.

The spending on road and waterways increased 14.5 per cent and 14.8 per cent respectively.

The ministry spokesperson said the government will focus its attention on two areas: railway and road construction in the central and western parts of China, and new projects associated with major national economic projects such as the so-called 'one road and one belt' initiative.

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