BEIJING — China's fixed-asset investment in the transport sector grew 9.8 percent year-on-year in the first three quarters of 2020 on the back of continued recovery from the impact of COVID-19.

The country's investment in its transport infrastructure was 2.51 trillion yuan (about $373.33 billion) from January to September, according to the Ministry of Transport.

Investment in road and waterway construction reached 1.88 trillion yuan during the period, meeting the government's annual target ahead of schedule.

China's transport investment in the third quarter went up 15.5 percent from the same period last year, data showed.