As part of its stimulus package China is planning to invest in basic infrastructure to stimulate growth in the country´s transportation sector.
The Ministry of Transport announced on Tuesday that it is planning to spend nearly 1 trillion yuan in fixed asset investment annually over the next 2 years.
The Ministry of Railways says investment in railway construction in the fourth quarter of 2008 will reach 150 billion yuan -- equal to the total amount for the first three quarters of the year.
Relevant authorities say upgrades are due and will involve building more than 300 new lines over the next 2 years that´s 10,000 more kilometers of tracks for every year.
China will use most of this year´s newly added investment in civil aviation on airport projects in Kunming, Chongqing, Nanning and other locations in the west.
China will build, renovate and expand 140 airports by the year 2010, as part of the country´s efforts to boost domestic demand amid the global economic slowdown.
Officials say the construction plan will propel consumption, and realize the potential purchasing power of residents living in towns and districts further from the center of the city.
The investment aims to ensure that paved roads reach every village,town in China by the year 2010. 99 percent of villages and towns in the country are currently serviced by roads.
China plans to invest 1 trillion yuan on road infrastructure in the next year with one-fifth of the spending slated for the development of rural roads.