China's urban fixed-asset investment up 24.9% in first 11 months

11:50, December 11, 2010      

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China's urban fixed asset investment rose 24.9 percent in the first 11 months year on year to hit 21.07 trillion yuan (3.19 trillion U.S. dollars), China's statistics authority said Saturday.

The growth rate was 0.5 percentage points higher than that during the first ten months, according to figures released by the National Bureau of Statistics (NBS).

The urban investment in the primary, secondary and tertiary industries rose by 16.6 percent, 22.7 percent and 26.9 percent respectively.

During the first 11 months, investment in central government projects rose 10.2 percent year on year to 1.68 trillion yuan, while investment in local government projects was up 26.4 percent to reach 19.39 trillion yuan, according to the NBS figures.

Property development investment was up 36.5 percent year on year to reach 4.27 trillion yuan, the figures showed.

During the same period, state-owned and state-controlled investment reached 8.75 trillion yuan, up 19 percent from a year earlier.

Investment in railway constructions and transportation jumped 25.3 percent to 582.2 billion yuan, while investment in petroleum and gas exploration climbed 5.8 percent to 219.4 billion yuan for the first 11 months.

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