Jan-Feb fixed asset investment up 24.9%

Updated: 2011-03-11 10:22
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BEIJING - China's fixed asset investment rose 24.9 percent in the first two months of this year to reach 1.7444 trillion yuan ($264 billion), the National Bureau of Statistics (NBS) announced Friday.

During the period, investment in the primary, secondary and tertiary industries rose 6.9 percent, 24.7 percent and 25.6 percent, respectively, according to figures released by the NBS.

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Investment in central government projects rose 6.3 percent year-on-year to 138.5 billion yuan, while investment in local government projects jumped 26.9 percent to reach 1.606 trillion yuan, the figures showed.

Sheng Laiyun, a NBS spokesperson, said investment in the country's property sector in the first two months rose 35.2 percent to reach 425 billion yuan, of which 301.4 billion yuan went into residential housing construction, up 34.9 percent year-on-year.

The total floor space of newly-started property projects in the period reached 190.83 million square meters, up 27.9 percent. While, the floor space of finished residential housing projects amounted to 53.66 million square meters, up 12.1 percent.