China's fixed-asset transport investment hits 712.5 bln yuan in Q1

Fixed-asset investment in China's transport sector maintained a high scale in the first quarter (Q1) of 2024, an official with the Ministry of Transport said.

This was reported by The Xinhua News Agency.

Total fixed-asset investment in the sector reached 712.5 billion yuan (about 100.3 billion U.S. dollars) during this period, according to the official.

Of the 102 key projects mapped out for China during the 14th Five-Year Plan (2021-2025) period, more than 260 transport-related projects are either underway or have been completed, involving total investment of 1.3 trillion yuan.

"Fixed-asset investment in the transport sector has provided a strong guarantee for the country's economic recovery", – the official stated.