China's transport sector notched an increase in fixed-asset investment in the first quarter of the year (Q1), the Ministry of Transport said Tuesday.
In the January-March period, fixed-asset investment in the sector amounted to 636 billion yuan ($96.97 billion), up 9.8 percent year-on-year, according to the ministry.
The growth rate climbed 1 percentage point from the fourth quarter in 2021, providing effective support for stabilizing the macroeconomy, said Wang Songbo, an official with the ministry, at a press conference.
The majority of the funds went to road and waterway infrastructure construction, with investment in road construction rising 11.8 percent year-on-year to 481 billion yuan in the period.
Investment in waterway construction came in at 31 billion yuan in Q1, up 5.4 percent.
Source: Xinhua
Source: Xinhua
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