Guangdong speeded up fixed-asset investment in transportation in Q1, completing projects worth RMB57.02 billion, 47.5% of the annual target, up 35.7% YoY.
Roads took the bulk of this spending, at RMB51.91 billion, an increase of 35% YOY. Of this, expressways accounted for RMB39.51 billion, up 43.6% year-on-year, while city and rural roads took the rest. Port projects saw RMB2.63 billion spent, an increase of 87.4% YoY.
Freight and cargo volumes seemed to be holding steady despite the deteriorating external environment. Waterway freight volume was up 5.6% and highway cargo turnover up 0.1%. At the ports, cargo throughput rose 7.4%, even though foreign trade cargo throughput was down 2.1%.