Business / Economy

China approves 248 fixed-asset investment projects in Jan-Nov

(Xinhua) Updated: 2015-12-11 17:13

BEIJING - China's top economic planner approved 248 fixed-asset investment projects with total investment reaching 2 trillion yuan ($315 billion) in the first eleven months of the year, an official said Friday.

In November the National Development and Reform Commission (NDRC) approved 11 projects worth 101.2 billion yuan, covering transportation, technology and energy, said NDRC policy research office head Shi Zihai, at a press conference.

Those projects will help coordinate regional development, promote transportation infrastructure construction and improve the energy structure, Shi said.

In a November statement the NDRC said that increasing investment and stabilizing growth were priorities for the fourth quarter.

Construction of important national strategic projects, including the "Belt and Road" initiative, the Beijing-Tianjin-Hebei integration plan and the Yangtze River Economic Belt, will receive more support, according to the NDRC.

China's total fixed-asset investment grew 10.2 percent year on year to 44.7 trillion yuan in the first 10 months of 2015.

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