China 'set to spend £12.3 billion on local transport'

Date: 6/2/2013

The Chinese Government is set to allocate 120 billion yuan (£12.3 billion) to fund local transport and infrastructure initiatives as part of attempts to underpin economic expansion.

As The Business Times reports, the country's finance ministry revealed today (February 6th) that the money is intended for projects such as highways, main road renovations and rural road building.

While China enjoyed economic growth of 7.8 per cent last year, this was the lowest it has recorded since 1999 - a factor that has prompted the Government to seek ways which could stimulate greater activity in 2013.

With the country looking to transport as a means to keep its economy's impressive performance on track, the authorities will be hoping that various projects initiated on a local level will enable the whole nation to benefit.

By adopting a pro-growth stance, the Chinese Government continues to demonstrate its emphasis on achieving and maintaining economic prosperity.

Posted by Nick Anderson

International Transport News and Sustainable Transport News