According to the latest statistics released by the Ministry of Railway, China's fixed asset investments in the railway sector rose 16% year on year to RMB 261.7 billion in the first seven months of this year.
Investment in railway infrastructure amounted to RMB 229.4 billion in the first seven months. Meanwhile, the investment for the purchase of railway vehicles totaled RMB 25.5 billion.
The country plans to allocate RMB 650 billion for fixed asset investments in the railway sector this year, including RMB 520 billion in infrastructure construction.
The MOR also said that China's fixed asset investments in its highway sector amounted to RMB 664 million in the first seven months.