China approves investment projects worth $6.3b in October

China's top economic planner approved eight fixed-asset investment (FAI) projects with combined investment totaling 44.2 billion yuan (about 6.3 billion US dollars) in October, official data showed.

The projects were mainly in the energy sector, according to data from the National Development and Reform Commission.

China's FAI remained basically stable in the first 10 months of the year thanks to robust high-tech investment.

FAI grew 5.2 per cent during the January-October period. Investment in high-tech manufacturing and high-tech services rose 14.5 per cent and 13.7 per cent year on year, respectively.

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

 

China approves investment projects worth $6.3b in October

Chinas top economic planner approved eight fixed-asset investment (FAI) projects with combined investment totaling 44.2 billion yuan (about 6.3 billion US dollars) in October, official data showed. The projects were mainly in the energy sector, according to data from the National Development and Reform Commission. Chinas FAI remained basically stable in the first 10 months of the year thanks to robust high-tech investment. FAI grew 5.2 per cent during the January-October period. Investment in high-tech manufacturing and high-tech services rose 14.5 per cent and 13.7 per cent year on year, respectively. FAI includes capital spent on infrastructure, property, machinery and other physical assets.