China announces major infrastructure investments for 2020

2019-12-26 16:50:37CGTN Editor : Mo Hong'e ECNS App Download

In 2020, China plans to invest 800 billion yuan (about 114.38 billion U.S. dollars) in the railway system, 1.8 trillion yuan in highways and waterways, and another 90 billion yuan in the civil aviation, said Minister of Transport Li Xiaopeng on Thursday.

According to the Ministry of Transport, since the business environment in China has improved, the overall logistics cost in transportation sector is expected to be reduced by 80 billion yuan, and the tax reduction and fee cut in civil aviation to reach nine billion yuan.

Besides, it is estimated that the investment in fixed assets for transportation will be 3,321.3 billion yuan in 2019.

As results of the efforts in improving infrastructures, the Ministry of Transport estimated the addition of 8,000 kilometers of railways, 330,000 kilometers of highways, 385 kilometers of high-grade fairways and five civil transportation airports were constructed in 2019.

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