China's urban fixed asset investment rose 32.9% in Jan-May
China's urban fixed asset investment surged 32.9% from a year earlier to RMB 5.35 trillion in the first five months of this year, the National Bureau of Statistics (NBS) said Thursday.
The growth is 2.4 percentage points higher than the growth in the first four months of 2009, reflecting successful government efforts to spur economic growth.
Fixed asset investment in state-owned or state-funded enterprises reached RMB 2.31 trillion, up 40.6% over the same period a year ago. The real estate sector received RMB 1.02 trillion in investment, indicating a year-on-year increase of 6.8%.
The statistics also showed that investment in central government and local government projects climbed 28% and 33.4% from a year earlier to RMB 473.4 billion and RMB 4.88 trillion, respectively.
Investment in primary, secondary and tertiary industry reached RMB 91.5 billion, RMB 2.3 trillion and RMB 2.96 trillion, representing year-on-year increases of 79.7%, 29.1% and 34.9%, respectively.
Investment in mining and ore washing rose 38.4% to RMB 72.9 billion, and investment in production and supply of electric power and heat power was RMB 297.7 billion, up 20.5% over the same period of last year.
Meanwhile, RMB 133.8 billion was invested in the railway transportation sector, up 110.9% year on year. Investment in the non-metallic mining rose 56.2% to RMB 183.8 billion.
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