China approves fixed-asset investment projects worth $7.48B
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E-mail Xinhua, June 17, 2019
China's top economic planner has approved 20 fixed-asset investment (FAI) projects with combined investment totaling 51.6 billion yuan (about 7.48 billion U.S. dollars) in May, official data showed Monday.
The projects were mainly in high-tech and transportation industries, according to Meng Wei, a spokesperson with the National Development and Reform Commission.
China's FAI remained basically stable in the first five months of the year thanks to robust high-tech investment.
The FAI grew 5.6 percent year on year during the January-May period, with investment in high-tech manufacturing and services surging 10.2 percent and 15.6 percent year on year, respectively.
FAI includes capital spent on infrastructure, property, machinery and other physical assets.
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