China's transport investment up 9.1% in Jan-July

BEIJING - China's transport sector reported a steady increase in fixed-asset investment in the first seven months of this year, data from the Ministry of Transport showed on Monday.

In the January-July period, fixed-asset investment in the sector amounted to over 1.6 trillion yuan ($237.4 billion), up 9.1 percent year-on-year, the ministry said.

The majority of funds went to road and waterway infrastructure construction, with investment in road construction jumping 9.2 percent year-on-year to approximately 1.52 trillion yuan.

Investment in waterway construction came in at 878 billion yuan in the first seven months, up 7 percent year-on-year.