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China's top economic planner approves investment projects worth $194b in 2019

Xinhua | Updated: 2020-01-19 15:56
Builders work at a property construction site in Huai'an, Jiangsu province. [Photo by Zhou Changguo/For China Daily]

BEIJING - China's top economic planner said Sunday that it has approved 157 fixed-asset investment (FAI) projects with combined investment totaling 1.33 trillion yuan ($194 billion).

A large part of the investment has gone into transportation and energy projects, according to Meng Wei, a spokesperson with the National Development and Reform Commission.

Other projects that attracted the FAI included those from high-tech and water conservation sectors.

China's total FAI expanded steadily in 2019 with investment in high-tech industries leading the growth, official data showed Friday.

The country's total FAI increased 5.4 percent year-on-year, according to the National Bureau of Statistics. Investment in high-tech industries registered an outstanding growth of 17.3 percent year-on-year.

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