China’s transport investment dropped 34%YoY in January-February

SHANGHAI, Mar 27 (SMM) – China's fixed-asset investment (FAI) in transport sector dropped 34% year on year to 170.9 billion yuan in the first two months of 2020, according to data from the Ministry of Transport released on Thursday.

About 117 billion yuan was invested in highways and waterways, accounting for 6.5% of the 1.8 trillion yuan target for the whole year and falling 38.8% from the same period last year.

In the January-to-February period, commercial passenger traffic dropped 50.9% year on year to 1.4 billion trips. Cargo freight declined 19.7% to 4.51 billion mt, while cargo throughput at ports fell 6% to 1.87 billion mt.

Data from the National Bureau of Statistics (NBS) released earlier this month showed that China's FAI investment totalled 3.3 trillion yuan in January-to-February, down 24.5% year on year from the same period last year.