Fixed-asset investment in China totaled 1,110.4 billion yuan (US$134.1 billion) in the first six months of this year, a rise of 24.4 percent year on year, according to the National Bureau of Statistics (NBS).
The NBS figures show infrastructure investment stands at 576.1 billion yuan (US$69.6 billion), up 23.0 percent; investment for renovation and upgrading at 206.2 billion yuan (US$24.9 billion), up 16.1 percent; and real estate investment at 282.1 billion yuan (US$34.1 billion), up 32.9 percent.
The figures also show that fixed-asset investment increased across China. In the January-June period, investment in China's eastern regions was 666.4 billion yuan (US$80.5 billion), up 22.9 percent; in the midland, 229.2 billion yuan (US$27.7 billion), up 26.7 percent; in western regions, 178.8 billion yuan (US$21.6 billion), up 20.9 percent.
The number of infrastructure projects and newly started projects increased by big margins, and housing sales jumped 22.4 percent.
NBS attributed the rapid growth in investment to the equally rapid pace of the distribution of the national debt and local people's eagerness for development.
Urban construction and redevelopment, the implementation of the new housing policy and construction of small-sized towns also contributed to the growth, NBS said.
(China Daily July 20, 2002)