The Chinese government has allocated 4.7 trillion yuan ($723.8 billion) to aggressively improve the country's infrastructure within three years.

The plan is aimed at developing China's transportation network including the rapid transit network, basic traffic network and urban transit network, according to China Daily. Under the plan, up to 300 railway, highway, airport, and waterway projects will be commissioned. Of which, 131 are expected to be completed this year, 92 in 2017, and 80 by 2018.

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China also plans to allocate two trillion yuan to push 86 railway projects, as well as build and repair nearly 20,000 kilometers of railway. A separate 580 billion yuan budget will be invested to promote 54 highways, 460 billion to develop 50 airports, and 460 billion for ten waterway projects.

China will additionally provide 1.6 trillion yuan to support over 100 urban rail transit projects and establish some 2,000 kilometers of new lines.

The plan, which was jointly issued by the National Development and Reform Commission and the Ministry of Transport, will take advantage of reforms designed to stop the country's economic slowdown.

Earlier this month, China's economy posted a positive increase in the first quarter. The upward trend was due to the abundant capital flow to infrastructure projects and real estate development. Investment reached over 1.5 trillion yuan ($235 billion), up by nearly 20 percent, according to the National Bureau of Statistics.

Furthermore, new projects are sprouting in almost all parts of China, with total planned investment up by nearly 40 percent year-on-year between January and March, the fastest so far since 2012.

Tagschina, infrastructure, railway, transit system, economic slowdown