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China approves projects worth over 24 bln USD in July: economic planner

Xinhua | Updated: 2017-08-18 17:16

BEIJING -- China's economic planner said Friday that it approved 22 fixed-asset investment (FAI) projects with total investment of 165.5 billion yuan (about $25 billion) in July.

The projects were mainly in energy, water conservation, transportation and high-tech, according to Meng Wei, spokesperson with the National Development and Reform Commission.

China's FAI saw slower growth in the first seven months of this year, but the overall situation remains steady.

In the January-July period, fixed-asset investment in China grew 8.3 percent year on year to 33.74 trillion yuan, compared with an expansion of 8.6 percent in H1.

FAI includes capital spent on infrastructure, property, machinery and other physical assets.

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