China approves investment projects worth $69 billion in H1

2019-07-16
Xinhua

BEIJING — China’s top economic planner approved 94 fixed-asset investment (FAI) projects with combined investment totaling 471.5 billion yuan (about $69 billion) in the first half of the year, official data showed on July 16.

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

China’s FAI remained basically stable in the first six months of the year thanks to robust high-tech investment.

The FAI grew 5.8 percent year-on-year in H1, 0.2 percentage points faster than the growth in the first five months, data showed on July 15.

Investment in high-tech manufacturing surged 10.4 percent, 4.6 percentage points faster than total investment growth, while investment in high-tech services also registered faster-than-average growth of 13.5 percent.

FAI includes capital spent on infrastructure, property, machinery and other physical assets.