Fixed asset investment up 24.8%, industiral output up 18.5%

Updated: 2008-01-24 11:54

China's fixed-asset investment rose 24.8 percent year-on-year in 2007, up 0.9 percentage points from 2006, the National Bureau of Statistics (NBS) said on Thursday.

The overall investment in assets last year stood at 13.7 trillion yuan (1.9 trillion U.S. dollars).

Investment in the booming real estate sector continued to grow rapidly, said NBS head Xie Fuzhan.

It scored a high rate of 30.2 percent in 2007, up 8.4 percentage points from a year earlier, Xie said. Total investment in the sector was 2.5 trillion yuan.

The urban fixed-asset investment was 11.7 trillion yuan, representing an annual increase of 25.8 percent and up 1.5 percentage points from the previous year.

However, the figure was already down from 26.8 percent for the first 11 months of last year.

Investment in rural areas came at a much smaller 1.98 trillion yuan, up 19.2 percent year-on-year.

Industiral output up 18.5%

Industrial output jumped by 18.5 percent last year, 1.9 percentage points higher over a year earlier.

The industrial output at companies with annual revenue of at least five million yuan (US$691,600) expanded by 17.4 percent in December, compared with 17.3 percent in November.

The output growth rates were 13.8 percent for the state-owned enterprises and those in which the state holds controlling stakes and 17.5 percent for companies invested by foreign, Hong Kong, Macao and Taiwan businessmen, Xie said.

The companies sold 98.1 percent of the goods they produced last year.

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