China's Investment in Industry Declining

China's investment in many industrial sectors underwent a decline in the first ten months of this year, but input in the communications sector kept a strong upward trend, according to the National Bureau of Statistics.

Latest figures from the bureau showed that total investment in industry between January and October dropped 4.3 percent year-on- year to 441.19 billion yuan (about 53.3 billion US dollars).

In the meantime, 233.27 billion yuan went to the energy sector, down 6.1 percent from the same 1998 period, and a sum of 52.91 billion yuan was directed to the machinery and electronics sectors, edging up 1.4 percent.

Transportation, postal and telecommunications services continued to enjoy a steady inflow of funds. Investment in the sector during the period hit 313.89 billion yuan, growing 2.2 percent on an annual basis.

Light industry and textile industry also witnessed a decline of investment in the ten months. Funds channeled to the sectors amounted to 56.13 billion yuan, down 6.2 percent.


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