China's investment curbs starting to pay off

Updated: 2006-10-16 13:37

BEIJING - China's efforts to curb blind expansion in some industrial sectors such as steel, alumina and autos are starting to pay off, the country's top economic planning official said in remarks published on Monday.

But Ma Kai, head of the National Development and Reform Commission, said growth in fixed-asset investment and in credit was still excessive.

In a speech made on Friday and posted on the agency's Web site, Ma said curbing the launch of new investment projects remained the main focus of the macro-control measures that Beijing is deploying.