Investment in roads and waterways rises in July

Fixed-asset investment in roads and waterways rose 13 percent year-on-year to reach 151.5 billion yuan ($24.74 billion) in July, according to the Ministry of Transport.

The growth rate is 3.8 percentage points higher than the average growth rate in the first six months.

In roads, accumulated fixed-asset investment in the Jan to July period reached 664 billion yuan, with actual executed capital reaching 73.4 percent, 5.7 percentage points lower than a year earlier, the ministry said.

In the rail sector, accumulated fixed-asset investment in the Jan to July period totaled to 261.7 billion yuan, up 16 percent over a year ago.

Basic infrastructure expenditure reached 229.4 billion yuan.