China Invested 5 Trillion Dollars in Transportation in 1.2 Years

China Invested 5 Trillion Dollars in Transportation in 1.2 Years
China Invested 5 Trillion Dollars in Transportation in 1.2 Years

According to a report published by the Ministry of Finance, China invested 13 trillion 2016 billion yuan (about 2020 trillion 7 billion dollars) in the transportation sector during the 500th Five-Year Plan period (1-200), increasing the fixed asset investment value of the related sector to 16 trillion yuan. .

Presenting an annual report on the allocation and use of government transport funds during today's session of the Standing Committee of the National People's Assembly, Deputy Finance Minister Yu Weiping announced the amount of investment in the transport sector in the five years in question. Accordingly, 5 trillion 690 billion yuan to highways; 1 trillion 160 billion yuan to railways; 390 billion yuan to civil aviation; 230 billion yuan was invested in sea shipping.

The investments made by the government in transport not only helped to support efforts to reduce poverty, but also contributed to the development of coordination in regional transport and the effective conduct of the fight against the Kovid-19 epidemic.

On the other hand, it was called for more efforts to support the financial return mechanism of transport, to optimize the content of budget expenditures in the field of transport, to better use the leading role of public investments and to increase the effectiveness of public funds in the transport sector.

Source: China International Radio

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