Total fixed asset investments (FAI) in transportation in China in 2022 amounted to RMB 3.8 trillion ($0.55 trillion), down 6.0 percent year on year, as announced by China’s Ministry of Transportation (MOT). The FAI in China’s railways in 2022 came to RMB 710.9 billion ($103.2 billion), almost remaining stable year on year.
The FAI in roads and waterways amounted to RMB 2.9 trillion ($0.42 trillion) and RMB 167.9 billion ($24.4 billion), up 9.7 percent and 10.9 percent, year on year, respectively.
Li Xiaopeng, the minister of transportation, stated that a five-year action plan will be formulated and implemented in 2023-27, aiming to accelerate the building of China into a strong country for transportation.
In the 2018-22 period, the FAI in transportation exceeded RMB 17 trillion ($2.5 trillion).
$1 = RMB 6.8942