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Fixed Asset Investment Slows Down
A sharp decrease of investment in technical upgrading pulled down the growth rate of fixed asset investment by three percentage points in China in October, according to official figures.
The National Bureau of Statistics (NBS) said Thursday (November 16) that investment in fixed assets totaled 221.7 billion yuan in October, 10.8 percent more than one year ago. The growth was three percentage points slower than in September.
According to the NBS, fixed asset investment for the first ten months of the year amounted to 1,568.7 billion yuan, increasing 12. 6 percent over the same period last year. However, the growth was 0.3 percentage points slower than in the first nine months of the year.
The official figures do not include investment by private and collective sectors.
The NBS said that the October growth of investment in technical upgrading slumped by 8.4 percentage points over September. The monthly figure weighed down the growth rate for the first ten months to 19.1 percent, 1.9 percentage points lower than in the first nine months.
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