In the January-May period this year, fixed asset investment (FAI) in roads and waterways in China totaled RMB 771.045 billion ($109.3 billion), increasing by 2.3 percent year on year, as announced by China’s Ministry of Transportation (MOT).
In particular, in the given period FAI in construction of roads, inland river facilities and coastal facilities in China amounted to RMB 718.296 billion ($101.8 billion), RMB 21.9 billion ($3.1 billion) and RMB 19.9 billion ($2.8 billion), increasing by 1.0 percent, 1.9 percent and 1.7 percent year on year, respectively.
The MOT said that the FAI in roads and waterways indicated positive growth in the first five months, signaling that the gap in transportation investment caused by Covid-19 this year has been basically filled.
$1 = RMB 7.0555