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China ramps up investment in transport to bolster economy


Since the beginning of this year, China has been actively expanding and upgrading its transport network to promote investment and stable economic growth.

China ramps up investment in transport to bolster economy

The official representative of the Ministry of Transport of the People's Republic of China, Shu Chi, said at a press conference on Wednesday that since the beginning of this year, the construction of major transport projects has successfully advanced, which has played an important role in effectively stimulating investment.

According to available data, between January and August of this year, investment in fixed assets in the transport sector increased by 6.6% year-on-year to 2.34 trillion yuan (about 329 billion US dollars), which contributed to the economic recovery in the face of growing challenges both at home and abroad.

Official data show that over the period, investment in road construction amounted to 1.77 trillion yuan, up 9.5% year on year. In the first eight months of this year, the country has completed the construction of 8,100 km of high-speed highways and state and provincial standard speed highways, and the construction of such highways with a length of 7,400 km has begun.

In January-August, investments in the construction of railways and waterways amounted to 402.8 billion yuan and 99.7 billion yuan, respectively, and investments in the construction of civil aviation facilities amounted to 67.1 billion yuan.

Increased investment in transportation is seen by analysts as one of the most important measures to ensure people's well-being and stimulate development, as well as an effective tool in stimulating investment and stabilizing growth.

With the foundations of the economic recovery still in need of strengthening, the government has stepped up its efforts to increase investment in transport projects and infrastructure construction.

August 30, a new high-speed highway was put into operation, linking the Yetimbulak settlement and the administrative center of Ruoqiang /Charklik /county in the Xinjiang Uygur Autonomous Region /Northwest China /, which became the third high-speed highway connecting Xinjiang with other regions of the country.

A week ago, significant progress was made in the construction of an underwater tunnel that will form part of a road bridge connecting the cities of Shenzhen and Zhongshan in the south of the country, with 30 of 32 underwater pipes successfully connected. In addition, the project of a container terminal in the Shanghai port of Yangshan passed the examination. It is expected that work on its construction will start at the end of October.

In the future, China plans to promote the effective implementation of relevant policies to further increase investment in transportation, Shu Chi said at a press conference on Wednesday, noting the appropriate use of local government special bonds as well as various financial instruments, emphasizing the need to focus on improving transport networks of the country.

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