China approves projects worth US$13.2 bln in October
0 Comment(s)
Print
E-mail Xinhua, November 17, 2018
China's top economic planner approved nine fixed-asset investment projects in October with a combined investment of 91.8 billion yuan (about US$13.2 billion), latest data shows.
The projects were primarily in transportation and energy areas, according to Meng Wei, spokesperson for the National Development and Reform Commission.
Fixed-asset investment, one of the major drivers of China's economy, posted a faster growth of 5.7 percent in the Jan.-Oct. period, up from 5.4 percent in the Jan.-Sept. period, according to data from the National Bureau of Statistics.
In breakdown, investment in infrastructure increased 3.7 percent in the first 10 months, slightly up from 3.3 percent in the Jan.-Sept. period.
Fixed-asset investment includes capital spent on infrastructure, property, machinery and other physical assets.
Go to Forum >>0 Comment(s)