China approves USD13B fixed-asset investment projects

BEIJING (XINHUA) – China’s top economic planner approved six fixed-asset investment projects with combined investment totalling CNY88.2 billion (about USD13 billion) in August, official data showed.

The projects were mainly in the transportation and information industries, according National Development and Reform Commission spokesperson Meng Wei.

Earlier data showed China’s fixed-asset investment edged down 0.3 per cent year on year during the January-August period, with the decline narrowing from the 1.6 per cent fall in the first seven months.

Fixed-asset investment includes spending in infrastructure, property, machinery and other physical assets.