China approves 70 fixed-asset investment projects in Jan-May

BEIJING, June 18 (Xinhua) -- China's top economic planner approved 70 fixed-asset investment (FAI) projects in the first five months of the year, with combined investment totaling 667.2 billion yuan (about 93.59 billion U.S. dollars), official data showed.

The projects were mainly in the high-tech, energy and transportation industries, according to the National Development and Reform Commission.

In May alone, 14 FAI projects worth 288.8 billion yuan were approved, the data revealed.

Fixed-asset investment, one of the drivers of China's economy, went up 4 percent in the January to May period, according to data from the National Bureau of Statistics.