China announces major infrastructure investments for 2020

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The Chinese government, according to the voice of Transport Minister Li Xiaopeng, announced a new industrial plan of nearly three trillion yuan in infrastructure.

In 2020, 800 billion yuan (nearly $115 billion) will be invested in railways, 1.8 trillion in highways and waterways and another 90 billion yuan in civil aviation.

According to the Chinese Minister of Transport, the renewal of the entire logistics system will result in savings of 80 billion yuan in the transport sector, and tax cuts and reductions of about 9 billion yuan in civil aviation.

Besides, it is estimated that the investment in fixed assets for transportation will be 3.321,3 billion yuan in 2019.

The Ministry of Transport estimated that 8,000 kilometers of railways, 330,000 kilometers of highways, 385 kilometers of canals and five civil transport airports were built in 2019.

topic: china infrastructure investments 2020

 


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