Business / Economy

China greenlights 96 fixed-asset investment projects in Jan-June

(Xinhua) Updated: 2016-07-14 13:42

BEIJING - China's top economic planner approved 96 fixed-asset investment projects with total investment reaching 461.6 billion yuan ($71 billion) in the first six months of 2016, an official said Thursday.

In June alone, the National Development and Reform Commission (NDRC) approved 23 projects involving 151.1 billion yuan, which cover transportation, high technology and water conservation, said NDRC spokesperson Zhao Chenxin at a press conference.

China's fixed-asset investment grew 9.6 percent year on year in the first five months, 0.9 percentage points lower than that recorded in the first four months of 2016, according to data released by the National Bureau of Statistics (NBS).

The investment structure was improved with more money spent on high-tech and service sectors, while less money went into industries with high energy consumption or excessive capacity, according to the NBS.

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