China approves investment projects worth $6.3b in October

BEIJING - China's top economic planner approved eight fixed-asset investment (FAI) projects with combined investment totaling 44.2 billion yuan ($6.3 billion) in October, official data showed.

The projects were mainly in the energy sector, according to data from the National Development and Reform Commission.

China's FAI remained basically stable in the first 10 months of the year thanks to robust high-tech investment.

FAI grew 5.2 percent during the January-October period. Investment in high-tech manufacturing and high-tech services rose 14.5 percent and 13.7 percent year-on-year, respectively.

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