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Municipal investment to reach 7t in 2011-15

By Zhang Jiawei (chinadaily.com.cn)
Updated: 2010-05-13 10:44
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China's municipal governments' total fixed asset investment in infrastructure construction is expected to reach 7 trillion yuan ($1 trillion) during the 12th Five-Year Plan (2011-15) period, the 21st Century Business Herald reported Thursday, citing an economist.

The newspaper cited Li Bingren, chief economist of the Ministry of Housing and Urban-Rural Development, as saying China's municipal governments' fixed asset investment in 2010 is likely to top 1 trillion yuan, and the investment is expected to speed up during the 12th Five-Year Plan period as the country's urbanization rate accelerates.

Investment from the government is expected to increase from 4 percent of the society's total fixed asset investment to 5.2 percent, despite the fact that total investment's growth rate may decrease from 24.7 percent in the 11th Five-Year Plan period to 16.2 percent in the 12th Five-Year Plan period.