Jun 20, 2024 06:39 PM

Charts of the Day: China’s Record-Breaking Investment in Transportation

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China’s investment in transportation infrastructure grew to a record 3.9 trillion yuan ($553.5 billion) last year, according to the Ministry of Transport.

Annual fixed-asset investment in transportation has surpassed 3 trillion yuan for seven consecutive years, the ministry said in a statement Tuesday.

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China's investment in transportation infrastructure reached a record 3.9 trillion yuan ($553.5 billion) in 2023.
Highway projects received the most funds at 2.8 trillion yuan, while railway investment rose by 7.5%, and water transport investment grew 20.1%.
Local governments face challenges repaying debts from infrastructure investments; the central government launched measures to curb hidden debts and introduced a special treasury bond program to support funding.

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What Happened When

2023：: China’s overall infrastructure investment expanded 5.9%, slowing from a 9.4% pace the previous year.

Last year：: China’s investment in transportation infrastructure grew to a record 3.9 trillion yuan ($553.5 billion).

Last year：: Central government launched a campaign to curb local authorities’ hidden debts.

March 2024：: Premier Li Qiang presented the government work report to the National People’s Congress, detailing the budget plan for using treasury bond proceeds.

May 2024：: Issuances for ultra-long special treasury bond program started.

Tuesday, June 18, 2024：: Ministry of Transport released a statement highlighting annual fixed-asset investment in transportation surpassing 3 trillion yuan for seven consecutive years.

AI generated, for reference only