Fixed-asset investments in the transportation sector rise to $539b

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A Fuxing high speed train arrives at Xiong’an Railway Station, in Xiong’an New Area of Hebei Province. [Photo by SUN Lijun/FOR CHINA DAILY]

According to a report released by the Ministry of Transport, China’s transportation industry maintained steady progress in 2018. It completed 3.91 trillion yuan (539 billion dollars) of fixed-asset investments, an increase of 1.5 percent year-on-year.

The report summarizes the country’s transport development in 2023. According to the report China’s transportation sector has seen rapid development, and has provided robust services to support the development of the country.

China’s railway system reached 159,000 km by the end of the last year. It has 45,000 high-speed rails, making it the largest in the world.

The country’s road network is 5,44 million km long, including 183,600 km freeways.

There are 259 commercial airports in the country, and this number will increase by 5 by 2022.

Last year, in addition to the development and expansion of transportation infrastructures both people and cargo movements saw growth. In 2023, China’s total commercial freight transportation volume reached 54,75 billion metric tonnes, an increase of 8.1 percent on a year-on-year basis.

The volume of cross-regional passengers trips also reached 61.29 Billion, a significant increase of 30.7 percent from the previous year.

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