China's urban fixed asset investment rose 32.9% in Jan-Jul

Aug. 12, 2009 (China Knowledge) - China's urban fixed asset investment surged 32.9% from a year earlier to RMB 9.59 trillion in the first seven months of this year, the National Bureau of Statistics said Monday.

The growth is 5.6 percentage points higher than the growth in the same period of last year, but 0.7 percentage points less than that in the first half of 2009.

Fixed asset investment in state-owned or state-funded enterprises reached RMB 4.12 trillion, up 40.1% over the same period a year ago. The real estate sector received RMB 1.77 trillion in investment, indicating a year-on-year increase of 11.6%.

The statistics also showed that investment in central government and local government projects climbed 25.3% and 33.7% from a year earlier to RMB 837 billion and RMB 8.76 trillion, respectively.

Investment in primary, secondary and tertiary industry increased 62.5%, 27.8% and 36.5% year on year, respectively.

Investment in mining and ore washing rose 39.6% to RMB 145.8 billion, and investment in production and supply of electric power and heat power was RMB 539.6 billion, up 22.7% over the same period of last year.

Meanwhile, RMB 239.1 billion was invested in the railway transportation sector, up 126.9% year on year. Investment in oil and natural gas extraction declined 5.7% to RMB 119.3 billion.