China's Investment Sector Continues to Grow

Home>>Business

Last updated at: (Beijing Time) Wednesday, July 23, 2003

China's Investment Sector Continues to Grow

Investment in fixed assets surged 31.1 percent year-on-year in the first half of the year as the number of large-scale construction projects reached a new high.

DISCUSSION

CHINESE

SEND TO FRIEND

Investment in fixed assets surged 31.1 percent year-on-year in the first half of the year as the number of large-scale construction projects reached a new high.

The National Bureau of Statistics (NBS) said Tuesday that among the 1.9 trillion yuan (about 230 billion US dollars) capital investment made in the first half of the year, 526.2 billion yuan were made in projects each with an investment of more than 100 million yuan. In urban areas of the country, a total of 13,028 large-scale projects with more than 100 million yuan of investment each were undergoing.

The NBS said that the progress of large-scale projects was the major driving force of the rapid growth of capital investment in the first half of the year.

NBS figures showed that investment in technical upgrading grew at a record-high speed of 39.2 percent in the period, while investment in real estate development grew 34 percent and investment in infrastructure construction grew 29.7 percent.

Industrial sector saw a strong surge of investment. The January-June growth reached 51.6 percent, 26.5 percentage points faster than in the same period of last year.

The NBS said as investment in real estate development grew rapidly, sales of housing surged 44.8 percent to 210.2 billion yuan. The growth of sales was 10.8 percentage points faster than the growth of investment.

Questions?Comments? Click here

China's Economy Grows Rapidly

E. China Province Reports Rapid Growth in Foreign Investment

China Reports Steady Growth of Overseas Investment

Major Milestone for China's Car Industry ( 3 Messages)

Scholars, or Trouble Makers?--People's Observation ( 64 Messages)

Why Renminbi Not to Be Revalued, Chief Economist of Morgan Stanley ( 19 Messages)

US Steps up Relations with Taiwan: Commentary ( 11 Messages)

Requisite Silence Self-discipline of the Media ( 2 Messages)