China’s transport investment up 6.3 per cent

BEIJING (APP): China’s fixed-asset investment in the transport sector maintained steady growth in the first three quarters of 2022, official data showed.
The total investment in transport reached 2.7 trillion yuan (about 372 billion US dollars) in the first nine months of the year, rising 6.3 percent year on year, according to the Ministry of Transport.
Specifically, investment amounting to approximately 2.06 trillion yuan was channeled into road construction, increasing 10 percent year on year.
Investment in waterway development rose 6.4 percent year on year to 112.4 billion yuan. In the third quarter alone, transport investment grew by 5.7 percent compared with the same period last year, up 0.8 percentage points from the second quarter.
China’s courier industry expansion continued in October: China’s courier sector maintained a steady growth in October 2022, a monthly industry index showed.
The China express delivery development index, tracking overall express business activities and trends, came in at 358 in October, up 6.2 percent year on year, according to the State Post Bureau.
The sub-index for service quality logged an increase of 15.6 percent, indicating better service delivery by courier companies and an improved consumer experience. The sub-index for development capacity picked up 0.2 percent year on year, as China ramped up efforts to upgrade express delivery network infrastructure and delivery efficiency.
The bureau also said that online consumption had rebounded during the week-long National Day holiday at the beginning of October. China’s courier companies handled more than 4.1 billion parcels during the holiday, up 5 percent year on year.