China's Investment in Industry Declining

China's investment in many industrial sectors underwent a decline in the first 11 months of last 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 the secondary industry between January and November dropped 4.2 percent year-on-year to 525.94 billion yuan (about 63.37 billion U.S. dollars).

In the meantime, 271.45 billion yuan went to the energy sector, down 5.6 percent from the same 1998 period, and a sum of 61.34 billion yuan was directed to the machinery and electronics sectors, down 3.9 percent.

Transportation, postal and telecommunications services continued to enjoy a steady inflow of funds. Investment in the sector during the period hit 382.92 billion yuan, growing 3.1 percent on an annual basis.

Light industry and textile industry also witnessed a decline of investment in the 11 months. Funds channeled to the sectors amounted to 66.12 billion yuan, down 4.8 percent.


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