Learn Chinese - Urban fixed asset investment up 26.6% in first 7 months

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BIZCHINA / Center

Urban fixed asset investment up 26.6% in first 7 months

(Xinhua)
Updated: 2007-08-16 14:01

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China's fixed assets investment in urban regions totaled 5.67 trillion
yuan (US$747 billion) in the first seven months this year, up 26.6
percent year on year, the National Bureau of Statistics said Thursday.

The growth figure is 3.9 percentage points lower than for the
January-July period of last year.

Investment in real estate sector reached 1.21 trillion yuan, up 28.9
percent, while the investment by State owned enterprises came to 2,431.7
billion yuan, up 16.5 percent.

Among the industries, investment in the primary industry enjoyed a
46.2-percent growth to 66.5 billion yuan and that of the secondary
industry rose by 28.9 percent to 2.55 trillion yuan. The tertiary
industry witnessed an increase of 24.5 percent to 3.05 trillion yuan.

The non-metallic minerals sector saw a 48.8-percent increase year on
year; investment in coal mining grew 17.2 percent; and energy was up 12.6
percent.

Chinese retail sales in July rose 16.4 percent year-on-year to reach
699.8 billion yuan, according to the bureau.

Another major economic barometer - consumer price index (CPI)- rose by a
33-month-high 5.6 percent in July on food price hikes compared with the
same period of last year, said the bureau.

(For more biz stories, please visit Industry Updates)

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