Urban fixed asset investment up 26.8% from Jan-Nov

(Agencies)
Updated: 2008-12-16 13:23

BEIJING - China's urban fixed asset investment was up 26.8 percent year-on-year at 12.76 trillion yuan (US$1.87 trillion) in the first 11 months of this year, the National Bureau of Statistics (NBS) said on Tuesday.

The growth rate was 0.4 percentage points lower than the first 10 months but unchanged from a year earlier.

The figure is a key measure of spending on factories, production facilities and real estate development.

Completed investment by state-owned enterprises hit 5.34 trillion yuan, a year-on-year increase of 21.6 percent, the NBS said.

Investment in real estate development totaled 2.65 trillion yuan, up 22.7 percent. The growth rate was 1.9 percentage points lower than the January-October level.

Investment in primary industry was 194.5 billion yuan, up 57.4 percent. The figures for secondary and tertiary industry were 5.72 trillion yuan and 6.84 trillion yuan, up 29.5 percent and 24.1 percent, respectively.

The bureau said actual investment from enterprises on the mainland totaled 11.44 trillion yuan, up 28 percent, while that from Hong Kong, Macao and Taiwan was 561.3 billion yuan, up 18.2 percent.

Foreign investment rose more slowly, growing 15.8 percent to 687.3 billion yuan.

By sector, coal mining saw a 34.8 percent increase. Investment in the thermal power industry jumped 15.7 percent and oil and gas development investment was up 34.8 percent from a year earlier.