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China approves 102 projects worth $39b in H1

Updated: Jul 17,2018 7:15 PM     Xinhua

BEIJING — China’s economic planning agency approved 102 fixed-asset investment (FAI) projects with a combined investment totaling 260.3 billion yuan (about $39 billion) in the first half of 2018.

The projects were mainly in high-tech, social service programs and water conservation industries, Yan Pengcheng, spokesperson for the National Development and Reform Commission, told a press briefing on July 17.

Data on July 16 showed China’s FAI grew 6 percent year-on-year in the first half of this year, 1.5 percentage points lower than that of the first three months.

FAI in high-tech manufacturing displayed strong momentum by growing 13.1 percent year-on-year, outpacing the country’s general FAI growth by 7.1 percentage points.

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