上半年交通投资降幅收窄 交通运输部强调进一步扩大有效投资

Core Insights - In the first half of 2025, China's fixed asset investment in transportation decreased for the second consecutive year, totaling 1.6474 trillion yuan, a decline of 3.09% compared to 1.7 trillion yuan in the same period of 2024 [1][2] - The decline in transportation investment is primarily attributed to a drop in road investment, which constitutes nearly 70% of total transportation fixed asset investment [1][2] - The overall economic operation of the transportation industry remained stable, with a steady growth in freight volume and strong resilience in international transport [2][3] Investment Breakdown - In the first half of 2025, investments in various transportation sectors were as follows: railways (355.9 billion yuan, up 5.51%), highways (1.1291 trillion yuan, down 8.89%), waterways (109.3 billion yuan, up 6.63%), and civil aviation (53.1 billion yuan, down 13.69%) [1] - Historical data indicates that the peak of transportation investment occurred in the first half of 2023, reaching 1.83 trillion yuan, with a year-on-year growth of 9.1% [1] Freight and Passenger Transport - In terms of freight volume, the transportation sector saw a stable increase, with a total of 28.03 billion tons, reflecting a year-on-year growth of 3.9% [2] - By mode of transport, freight volumes increased in railways (1.8%), highways (4.0%), waterways (4.3%), and civil aviation (14.6%), with ocean freight by Chinese shipping companies growing by 9.4% [3] - Passenger transport also showed robust growth, with a total of 33.76 billion person-times, a year-on-year increase of 4.2%, and international air passenger volume rising by 28.5% [3]