China approves FAI projects worth 87.3b yuan in April

BEIJING - China's top economic planner approved 12 fixed-asset investment (FAI) projects in April, with combined investment totaling 87.3 billion yuan ($ 13.56 billion), official data showed on Tuesday.

The projects were mainly in the transport and informatization sectors, according to the National Development and Reform Commission.

China's FAI increased 19.9 percent year-on-year to 14.38 trillion yuan in the first four months of 2021, with continued improvements in investment structure, according to the National Bureau of Statistics.

The double-digit growth was driven by a low comparative base early last year, when COVID-19 paralyzed economic activities in China. Compared with the 2019 level, FAI growth came in at 8 percent during the January-April period.

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