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Transportation sector sees fixed-asset investment rise to $539b

By LUO WANGSHU | chinadaily.com.cn | Updated: 2024-06-18 15:18

A Fuxing high-speed train arrives at Xiong'an Railway Station in Xiong'an New Area in Hebei province. [Photo by SUN LIJUN/FOR CHINA DAILY]

China's transportation sector maintained a steady progress last year by completing 3.91 trillion yuan ($539 billion) in fixed-asset investment, a year-on-year increase of 1.5 percent, according to a newly released report by the Ministry of Transport on Tuesday.

The report has summarized the country's transportation development in 2023. According to the report, China's transport sector has seen a rapid development and has provided robust transportation services to support the country's development.

By the end of last year, China's railway network has reached 159,000 kilometers, with 45,000 high-speed railways, ranking top in the world.

The country has a road network of 5.44 million km, with 183,600 km of freeways.

The country has 259 commercial airports, an addition of 5 from 2022.

In addition to the development of transportation infrastructures, people and cargo movement also saw growth last year. In 2023, China achieved a total volume of commercial freight transportation of 54.75 billion metric tons, marking an 8.1 percent year-on-year increase.

Additionally, the volume of cross-regional passenger trips reached 61.29 billion, showing a significant 30.7 percent rise from the previous year.

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