Fixed Assets Investment Increases in NE China ProvinceNortheast China's Liaoning Province saw 42.25 billion yuan (5 billion U.S. dollars) of fixed assets investment during the first half of this year, up 17.2 percent from last year, said officials.This investment covered a wide range of areas, including water conservation, ecological protection, industrial technology upgrading, urban infrastructure construction, new and high technology industries, and education. Sources from the provincial Development Planning Committee show that Liaoning, one of China's major industrial bases, will invest 770 billion yuan (93 billion U.S. dollars) in fixed assets in the following five years in an attempt to further improve infrastructure and stimulate domestic demand. Zhang Tiemin, deputy director of the committee, said that the increase in fixed assets investment has brought a beneficial influence on the local economy, and the province's GDP (Gross Domestic Product) for the first six months of this year grew by 8. 8 percent from the same period of last year. |
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