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Investment in fixed assets continued to increase. In 2004, the completed investment in fixed assets of the country was 7.01 trillion yuan, up 25.8 percent over the previous year, or 1.9 percentage points lower as compared with the growth in 2003.
The investment in urban areas grew at a slower pace. Of the investment in urban areas, the investment in the primary industry rose 20.3 percent as compared with a 19.6 percent decline in 2003. The investment in the secondary industry grew 38.3 percent, 8 percentage points lower as compared with that in the previous year, and that of the tertiary industry was up 21.6 percent, or 0.5 percentage points lower. Of all projects involving over 5 million yuan of investment in urban areas, the investment in the production of steel was up 32.3 percent, which was 63.9 per centage points lower as compared with that in the previous year; that in aluminum production was down 1.8 percent, as compared with an 86.6 percent growth in 2003. The investment in cement went up 43.3 percent, or 70.1 percentage points lower; motor vehicles, up 53.5 percent, or 24.3 percentage points lower; and textiles, up 30.3 percent, or 56.4 percentage points lower.
Investment in real estate development continued to increase. In 2004, the investment in real estate development was 1.32 trillion yuan, up 28.1 percent. The total sales of commercial buildings for the whole year reached 1.04 trillion yuan, up 30 percent. Of this total, the sales to individuals went up 30.4 percent, accounting for 93.3 percent of the total sales of commercial buildings.
The investment in key construction projects was completed smoothly. The total completed investment in the Three Gorges Project stood at 111.4 billion yuan, and 11 power generators were put into operation, with newly increased power generating capacity reaching 7.7 million kw. The total completed investment in the Qinghai-Tibet Railway was 19.8 billion yuan, with completed length of the railway extending to 743 km. By the end of 2004, the pipelines of the west-to-east natural gas transmission project were put into commercial operation. Construction on the eastern and central routes of the south-to-north water diversion project started, with total completed investment in five sub-projects reaching 2.1 billion yuan. With the financial support from the Central Government, a total length of 150,000 km of county and rural roads were reconstructed; the difficulty in getting access to drinking water for about 50.2 million rural population was solved; a total number of 163 projects of medical aid system were in place for dealing with public health emergencies; and another 1,296 projects of the national disease prevention and control network were basically completed.
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