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China to Invest 6.2 Tln Yuan in Transportation Sector

Source:   Time:

  China plans to spend 6.2 trillion yuan (954 billion U.S. dollars) to upgrade its transportation infrastructure during its 12th Five-Year Plan period (2011-2015), an official said Thursday.

  The figure was compared to a previous investment of 4.7 trillion yuan in the sector during the 2006-2010 period, Sun Guoqing, director of the comprehensive planning department of the Ministry of Transport, said during a press conference.

  The money will pay for the construction of road and waterway transportation facilities, with road construction accounting for a large part of the budget, Sun said.

  According to a development plan released by the ministry at the conference, China will construct 108,000 kilometers of highway during the 12th Five-Year Plan period.

  By the end of 2015, the country's highway network will cover more than 90 percent of cities with populations of 200,000 people or more, according to Sun.

  

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