In August this year, fixed asset investment (FAI) in transportation in China totaled RMB 329.8 billion ($48.5 billion), increasing by 16.8 percent year on year, as stated by Sun Wenjian, news spokesman of China’s Ministry of Transportation (MOT) on September 24.
In particular, in August the year-on-year growth of FAI in transportation indicated an increase of more than 15 percent for the fifth consecutive month - with the increases in May, June and July exceeding 20 percent - reflecting booming building activity in the field of transportation, which has also provided solid support for steel demand.