China to invest 6.2 trillion yuan in transportation sector over next five years

China plans to spend 6.2 trillion yuan (954 billion U.S. dollars) to upgrade its transportation infrastructure during its 12th Five-Year Plan period (2011-2015), an official said Thursday.


The figure was compared to a previous investment of 4.7 trillion yuan in the sector during the 2006-2010 period, Sun Guoqing, director of the comprehensive planning department of the Ministry of Transport, said during a press conference.


The money will pay for the construction of road and waterway transportation facilities, with road construction accounting for a large part of the budget, Sun said.


According to a development plan released by the ministry at the conference, China will construct 108,000 kilometers of highway during the 12th Five-Year Plan period.


By the end of 2015, the country's highway network will cover more than 90 percent of cities with populations of 200,000 people or more, according to Sun.
(Source:http://news.xinhuanet.com)