April 8, 2018 / 5:07 AM / 3 months ago

China's Chongqing to spend $14 billion on transport infrastructure in 2018: Xinhua

BEIJING (Reuters) - The central Chinese municipality of Chongqing will invest 90.5 billion yuan ($14.28 billion) in transport infrastructure this year as part of a wider national poverty relief drive, said state media on Sunday.

Infrastructure investment is expected to be one of China’s top economic growth drivers in coming years, and the country expects to spend over 2 trillion on projects in 2018.

Chongqing’s investment includes 55.5 billion yuan for roads, 28.5 billion yuan for railways and 2.5 billion yuan for civil aviation, said state news agency Xinhua.

It includes plans for a high-speed railway and support for 18 poverty-stricken townships, it said.

In December, China’s Ministry of Transport said it will build 5000 km (3107 miles) of new expressways and renovate 216,000 km of roads across the whole of China in 2018.

($1 = 6.3045 Chinese yuan renminbi)

Reporting by Cate Cadell

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