SHANGHAI—China plans to double investment in shipping canals and other waterway facilities to at least 40 billion yuan ($5.3 billion) in the five years ending 2010 because of rising marine-cargo traffic.

“We’ll gradually establish a stable financing regime to help build river ports and canals,’’ Li Shenglin, Minister of Communications, said in a speech broadcast on the central government’s web site Thursday. He didn’t give a figure for spending in the preceding five years.

The country will introduce new policies to encourage private investments in canals and waterways, Li said, without elaboration. China’s economic growth, averaging 9 percent a year since 1997, has boosted canal traffic, as more than 90 percent of the country’s imports move by river.

China plans to more than double its network of so-called high-level canals to 19,000 kilometers (km) (11,800 miles) by 2020, Li said. High-level canals are those able to handle vessels with a deadweight of 1,000 tons.

The country has a total 123,000 kilometers of canals in operation, including 8,000 km of high-level canals, Li said. --Bloomberg

SHANGHAI—China plans to double investment in shipping canals and other waterway facilities to at least 40 billion yuan ($5.3 billion) in the five years ending 2010 because of rising marine-cargo traffic.

ATLANTA—Deutsche Post AG’s DHL Express completed its $150-million purchase of almost half of Atlas Air Worldwide Holdings Inc.’s Polar Air Cargo Worldwide unit, gaining access to more jets for US-Asia flights.

COPENHAGEN—A.P. Moeller-Maersk A/S’s Lindoe division, builder of the world’s largest container vessels, agreed to sell its unprofitable eastern German shipyard to a local competitor to help meet savings targets.

FRANKFURT—Shares of TNT NV, Europe’s second-biggest express-delivery service, rose 1.8-percent amid speculation US competitor FedEx Corp. may make a takeover bid.