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Economy

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China approves projects worth 3.5 bln USD in November

December 17, 2018


Abstract : China's top economic planner approved 13 fixed-asset investment projects in November with a combined investment of 24.2 billion yuan (about 3.5 billion U.S. dollars), latest data showed.

BEIJING, Dec. 15 (Xinhua) -- China's top economic planner approved 13 fixed-asset investment projects in November with a combined investment of 24.2 billion yuan (about 3.5 billion U.S. dollars), latest data showed.

The projects were primarily in high-tech and transportation sectors, according to the National Development and Reform Commission.

Fixed-asset investment, one of the major drivers of China's economy, picked up pace for a third straight month, an encouraging sign amid increasing downward pressures on the wider economy.

The investment climbed 5.9 percent year on year in the first 11 months of 2018, quickening from the 5.7-percent growth in January-October, the National Bureau of Statistics said Friday.

Fixed-asset investment includes capital spent on infrastructure, property, machinery and other physical assets.


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