China to invest 15 bln yuan to modernize Yangtze River waterway

China will invest 15 billion yuan (1.875 billion U.S. dollars) in the next five years to modernize the Yangtze River waterway, the world’s third longest river with a length of over 6300 km, Li Shenglin, minister of Communications said in Nanjing on Tuesday.

The money will be mainly used for waterway management, port construction, shipbuilding standardization and shipping security projects, Li said at a meeting held in Nanjing.