China's transport investment swings back to growth in May

BEIJING -- China's fixed-asset investment in the transport sector swung back to growth in May after posting a contraction in April, data from the Ministry of Transport showed.

The country's transport investment rose 2.8 percent year-on-year to 304.6 billion yuan ($45.56 billion) in May, reversing a 2.7-percent decline in April.

In breakdown, the country's fixed-asset investment in road construction climbed 7.3 percent year-on-year, while that for waterway infrastructure remained flat from the same period last year.

During the first five months of the year, China's fixed-asset investment in transport infrastructure reached 1.2 trillion yuan, up 4.9 percent year-on-year, data showed.