BIZCHINA / Center
Urban fixed asset investment up
(Xinhua)
Updated: 2007-03-17 13:42
Fixed asset investment in China's urban areas rose to 653.5 billion yuan
(about 86 billion U.S. dollars) in the first two months, up 23.4 percent
from the same period last year, a report of the National Bureau of
Statistics (NBS) said Friday.
This growth rate was 0.6 percentage point slower that in 2006.
Investment in the real estate, a sector the central government has been
desperately trying to rein in, grew 24.3 percent to 178.6 billion yuan,
according to the report.
Investment in projects authorized by the central government increased by
21.7 percent and in local government-approved projects by 23.6 percent
over the same period last year.
Among the industries, the railway sector saw a 97.2-percent increase year
on year; investment in coal mining grew 2.3 percent; and petroleum and
natural gas was up 3.3 percent.
(For more biz stories, please visit Industry Updates)
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