China's fixed-asset investment up 10.5% in Jan - April

BEIJING - China's fixed-asset investment grew 10.5 percent to 13.26 trillion yuan ($2 trillion) in the first four months, compared with the 10.7-percent growth recorded in the first quarter of 2016, official data showed Saturday.

It marked slower growth in China's fixed-asset investment, money used to purchase and build factories, machines, property and other fixed facilities.

In breakdown, fixed-asset investment in agriculture was up 21.7 percent in the Jan.-April period, followed by 12.4 percent for the service sector and 7.3 percent for industry.

Fixed-asset investment in eastern, central and western regions increased 10.8 percent, 13.5 percent and 13.2 percent, respectively, in the first four months.

Investment in the northeast worsened with a 24.7-percent drop in the first four months, compared with the 19.3-percent decrease in the first quarter.

Investment by foreign companies gained 12.4 percent year on year in the first four months, improved from the 11.3-percent gain reported in the first quarter.

Funding growth for fixed-asset investment edged up 8.1 percent in the first four months, higher than the 6.4-percent gain seen in the first quarter.

Of the total funds, the government budget for fixed-asset investment rose 22.9 percent, 6 percentage points higher than that in the first quarter.