BEIJING — China's fixed-asset investment (FAI) in the transport sector registered stable growth during the first three quarters of the year, the country's transport ministry said on Oct 24.

FAI edged up 2.2 percent year-on-year to reach 2.29 trillion yuan (about $320 billion) in the January-September period, Wu Chungeng, spokesperson of the Ministry of Transport, told a press conference.

Of the total, 1.67 trillion yuan went to roads and waterways, accounting for 92.9 percent of the annual target, data showed.

In 36 key cities monitored by the ministry, passenger volume handled by public transport rose by 3.3 percent to 50.04 billion during the period.

Cargo volume maintained a robust growth from January to September, with commercial freight volume climbing 5.9 percent year-on-year to 38.9 billion tons.

Logistics costs were reduced by 57 billion yuan during the past nine months and efforts to remove highway tolls on provincial borders made obvious progress, Wu said.