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Electronics net lower investment rate

FIXED-ASSET investment in China's electronics industry jumped 16 percent in the first five months of the year but the rate was lower compared with a year ago due to a slowing economy, the Ministry of Industry and Information Technology said yesterday.

More funds were poured into sectors like optical fiber and mobile communications equipment while the semiconductor and electronics component sectors saw a decline in investment, MIIT said.

From January to May, fixed-asset investment in electronic projects worth more than 5 million yuan (US$732,000) each reached 118.03 billion yuan, a growth of 16.3 percent year on year. But it was 2.7 percentage points lower from a year ago, according to MIIT which added that the investment structure has changed.

During the period a total of 1,463 new electronics projects broke ground, an annual rise of 21.8 percent.

In the first five months, investment in the telecommunications equipment industry jumped 17.4 percent to 10.32 billion yuan while that in the computer manufacturing industry was 8.92 billion yuan, an increase of 17.8 percent year on year, MIIT said. China will invest a total of 400 billion yuan on 3G within two or three years, according to MIIT.

In the period, investment in electronics components fell 16.4 percent to 24.6 billion yuan, MIIT said.



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