China invests $327bn in infrastructure in 9 months
China's increased infrastructure spending is aimed at boosting its slowing economyEuropost
China’s total fixed asset investment in transport infrastructure hit $327bn in the last 9 months - from January to September this year, up 1.4 percent from a year earlier - government data shows. Moreover, the value of fixed-asset investment projects approved in the third quarter of this year is more than four times the amount during the April-June period, figures prove.
According to a briefing by the Ministry of Transport, Beijing’s spending on high-speed highways reached 702.6bn yuan, up 12 percent on the year, though much of the increase was offset by declines in investment in rural road infrastructure. Furthermore country's rail freight volumes rose 7.9 percent in the first three quarters, following China's promise to boost its railway freight capacity in order to ease traffic congestion and pollution.
China's increased infrastructure spending is aimed at boosting its slowing economy