China's fixed-asset transport investment hits 3.8 trl yuan in 2024

Fixed-asset investment in China's transport sector maintained a high scale in 2024, reaching a total of 3.8 trillion yuan (about 528.27 billion U.S. dollars), according to a report released by the Ministry of Transport on Thursday.

The mileage of the main framework routes of the national comprehensive three-dimensional transportation network has exceeded 260,000 kilometers, with approximately 90 percent of the construction completed, according to the report.

In 2024, the coverage of China's rapid transportation network continued to expand, showed data in the report.

In terms of railways, a total of 2,457 kilometers of new high-speed rail lines were put into operation. The high-speed railway network, consisting of eight vertical and eight horizontal major lines, continued to grow. More than one-third of the provinces achieved high-speed rail access in all cities.

Meanwhile, the length of expressways increased by 7,032 kilometers, with more than two-thirds of the provinces having expressway access to every county.

At the same time, aviation services covered 92.6 percent of the prefecture-level administrative regions and 91.2 percent of the population across the country.

In addition, China's investment in rural road construction has remained above 400 billion yuan for eight consecutive years, and a total of 164,100 kilometers of rural roads were built or renovated in 2024, according to the report.

A total of 426,700 village-level postal service stations were established nationwide in 2024, an increase of 61,600. The supply of express delivery services in western regions such as Xinjiang and Inner Mongolia maintained continuous buildup, said the report.

China's fixed-asset transport investment hits 3.8 trl yuan in 2024

China's smart consumer device manufacturing sector has seen rapid growth this year, fueled by a government-backed trade-in program and the expansion of diversified consumption scenarios.

From January to May, the country's electronic information manufacturing industry maintained strong momentum, with total revenue of enterprises above the designated size reaching 6.49 trillion yuan (some 900 billion U.S. dollars), up 9.4 percent year on year.

Production of electronic consumer goods recorded steady increases. Over 140 million computers were produced during the period, up 8 percent from a year earlier, while 14.04 million television units rolled off assembly lines, up 1.7 percent year on year.

"Consumption scenarios are becoming more diversified. On the demand side, new smart products are quickly entering the market, opening up emerging markets in home services, health management, and beyond. On the supply side, the industry is clearly moving toward transformation and upgrading, with new growth drivers accelerating," said Zuo Kairui, director of the Industry Development Department of the Institute of Policy and Economics at the China Academy of Information and Communications Technology.

Looking ahead to the second half of the year, China plans to go on promoting its "AI plus consumer goods" initiative, encouraging the development and application of new technologies such as smart wearables, ultra-high-definition video, brain-computer interfaces, and robotics.

Meanwhile, authorities will continue to foster high-growth consumer sectors and guide the smart device industry toward greener, more service-oriented development.

China's smart consumer device industry sees rapid growth amid policy boost