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China's fixed-asset investment up 20.4 pct in first seven months
Last Updated(Beijing Time):2012-08-09 14:45

China's urban fixed-asset investment rose 20.4 percent year on year to 18.43 trillion yuan (2.93 trillion U.S. dollars) in the first seven months of 2012, the National Bureau of Statistics (NBS) announced Thursday.

The growth rate did not change from that of the first half, the NBS data showed.

During the January-July period, private fixed-asset investment grew 25.5 percent to 11.45 trillion yuan, pulling back 0.3 percentage points from that of the first half of the year.

Private investment accounted for 62.1 percent of the total investment, unchanged from the first half.

Real estate investment expanded 15.4 percent year on year to 3.68 trillion yuan, retreating 1.2 percentage points from the rate in the first half.

During the first half, investment in the primary industry amounted to 455 billion yuan, up 28.8 percent, while that in the secondary industry totaled 8.29 trillion yuan, up 23.4 percent. Investment in the tertiary industry rose 17.7 percent to hit 9.69 trillion yuan.

Investment in the nation's central regions grew the fastest by 25 percent, followed by 24.2 percent in the west and 19.2 percent in the east.

Amid the slowing economy, some local governments have recently created massive investment plans to prop up growth.

Changsha, capital of central China's Hunan province, unveiled its own investment plan late last month. The plan features a total investment of 829.2 billion yuan in 195 projects ranging from constructing an airport and exhibition halls to renovating run-down towns.

Source:Xinhua 
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