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October 20, 2016

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NDRC approves 23 FAI projects

CHINA’S top economic planner approved 23 fixed-asset investment projects worth a total of 319.7 billion yuan (US$47.5 billion) in September.

The projects covered transport, high tech, energy and water conservation, according to the National Development and Reform Commission.

The projects will help promote regional economic growth, upgrade the country’s industrial structure and advance China’s sustainable development, said the NDRC.

China’s fixed-asset investment in the first nine months grew 8.2 percent year on year, compared with an increase of 8.1 percent during the January-August period, the National Bureau of Statistics reported yesterday.

The investment structure saw improvement with more money spent on high-tech and service sectors, while less money went into industries with high energy consumption or excessive capacity, according to the bureau.


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