BEIJING, July 2 (ABC): China’s fixed-asset investment in the transport sector swung back to growth in May after posting a contraction in April, data from the Ministry of Transport showed.
The country’s transport investment rose 2.8 percent year on year to 304.6 billion yuan (about 45.56 billion U.S. dollars) in May, reversing a 2.7-percent decline in April.
In breakdown, the country’s fixed-asset investment in road construction climbed 7.3 percent year on year, while that for waterway infrastructure remained flat from the same period last year.
During the first five months of the year, China’s fixed-asset investment in transport infrastructure reached 1.2 trillion yuan, up 4.9 percent year on year, data showed.