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Friday, September 14, 2007

Factory Investment Continues To Rise

China's spending on factories, equipment and property climbed 26.7 percent in the first eight months of 2007 according to the statistics bureau today.

The world's fourth-largest economy expanded 11.9 percent in the second quarter from a year earlier, the fastest pace since 1994. The trade surplus grew 33 percent in August to $24.97 billion. Inflation jumped to 6.5 percent.

From January to August, urban investment in fixed assets hit 6,665.9 billion yuan, a rise of 26.7 percent year-on-year. Of the total, state -owned and state controlled enterprises invested 2,877.7 billion yuan, surging 16.7 percent; real estate development enterprises valued at 1,427.7 billion yuan, rose by 29.0 percent.

In terms of jurisdiction of management, central investment stood at 643.5 billion yuan with growth rate of 13.2 percent as compared with previous year; that of local investment totaled 6,022.4 billion yuan, jumping 28.4 percent.

In terms of different industries, investments of primary, secondary, and tertiary industry amounted to 78.3, 2,962.6 and 3,625 billion yuan, expanding 42.9, 29.5 and 24.3 percent respectively, year-on-year.

In terms of different sectors, investments of mining and washing of coal stood at 90.8 billion yuan, a year-on-year rise of 22 percent; that of extraction of petroleum and natural gas grew to 108.1 billion yuan, increasing 10.5 percent; that of manufacture of non-metallic mineral products, smelting and pressing of ferrous metals, smelting and pressing of non-ferrous metals respectively valued at 162.1, 149.9 and 74.1 billion yuan, jumping 49.6, 12.9 and 29.2 percent; that of production and supply of electricity and heat, railway transport arrived at 460.7 and 119.3 billion yuan, climbing 11.5 and 3.4 percent year-on-year.

In terms of registration status, investments of domestic funds enterprises stood at 5,909.3 billion yuan, surging 27 percent over that in the same period last year; that of enterprises with funds from Hong Kong, Macao and Taiwan valued at 322.4 billion yuan, rising 32.5 percent; and that of foreign funded enterprises standing at 397.6 billion yuan, up 17.1 percent, year-on-year.

In terms of buildings under and new constructions, by the end of August, the cumulative number of urban construction projects over 500,000 yuan was 237,000, a year-on-year increase of 29,286; that of total investment planned in project under construction stood at 211,981 trillion yuan, climbing 17.9 percent; that of number of project started this year valued at 149,751, a year-on-year rise of 18,665; that of total planned investment of newly projects was 5,194.2 billion yuan, a rise of 16.7 percent.

In terms of volume of positioned funds, investment in urban areas hit 7,677.8 billion yuan, a year-on-year rise of 27.1 percent. Of which, domestic loans, foreign investment, and self-rising funds rising 12.7, 16.3 and 32.2 percent respectively, year-on-year.

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