China's fixed asset investment maintains steady growth in Q1

⁠⁠⁠⁠⁠⁠⁠Fixed-asset investment in China's logistics sector logged stable growth in the first quarter of the year, industry data showed Monday.

As policy effects continued to show up, especially following the implementation of an action plan to promote large-scale renewal of equipment and trading-in of consumer goods, fixed-asset investment in the logistics sector maintained steady growth, logistics infrastructure continued to improve,  and the expectations of market entities continued to rise, according to China Federation of Logistics and Purchasing.

In the first quarter, the investment in rail transport increased by 17.6 percent, and that in air transport jumped 35.4 percent.

With the steady rebound in transport investment, the logistics sub-sectors enjoy a continuously improving environment for development, according to the federation.

"The growth rate of fixed-asset investment was relatively high mainly in railway and aviation sectors. This in fact indicates relatively stronger expectations for continued policy effects in the two sub-sectors of the logistics industry. Another thing is the infrastructure in the two sub-sectors will play a very important role in supporting the future structural optimization of the entire logistics industry," said Li Yuhang, director of the China Logistics Information Center.

Looking ahead, as infrastructure projects continue to accelerate progress in the second quarter, logistics enterprises will remain optimistic about future development, with the sub-index for business activity expectations picking up for two consecutive months and remaining in the high range above 55 percent.

For the first half of the year, the logistics sector is expected to maintain a momentum of recovery and steady growth, said the federation.

China's fixed asset investment maintains steady growth in Q1

Although the heavy rainfall that ravaged southern Brazil has abated, high floodwaters remain in Porto Alegre, the capital of the Rio Grande do Sul state.

Over 600,000 people have been evacuated from the region amid ongoing and extensive rescue efforts.

Since April 29, three weeks of relentless floods have ravaged southern Brazil. Vast areas remain submerged, displacing residents and leaving a path of destruction. Experts warn the receding of waters could take weeks, posing a significant challenge to recovery efforts.

Laura Cardos, a driver, has become a community volunteer in one of the hardest-hit areas, helping evacuate trapped locals by boat. Together with her partners, she has helped more than 500 residents reach safety and rescued hundreds of animals.

"My home was not affected by the flood. We are here to evacuate trapped people by boat. It feels like we are the ones suffering. We do feel exhausted because we have been evacuating people for the past 10 days. However, as the floodwaters have not receded and may still rise, we will steadfastly continue our efforts," said Laura.

Many neighborhoods in the state are now surrounded by floodwaters, and the risk of new flooding remains high.

In Sao Leopoldo, a few kilometers north of the state capital, some residents insist on staying in their homes to prevent theft and to repair flood-damaged furniture.

"I have lived here for 44 years and have never experienced a flood like this. When I was five, there was a flood, but the water only came up to my knees. This time, the flooding is terrible and has taken away everything from many people," said a local resident.

Severe flooding in southern Brazil displaces over 600,000 as recovery efforts continue