BUSINESS China approves investment projects worth 44.9 bln USD in Q3

BUSINESS

China approves investment projects worth 44.9 bln USD in Q3

Xinhua

16:33, October 26, 2019

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File photo: VCG

BEIJING, Oct. 26 (Xinhua) -- China's top economic planner approved 35 fixed-asset investment (FAI) projects with combined investment totaling 317.2 billion yuan (about 44.9 billion U.S. dollars) in the third quarter, official data showed.

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

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

FAI grew 5.4 percent year on year to reach 46.1 trillion yuan in the first three quarters, retreating 0.1 percentage points from the January-August period.

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

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