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Tuesday, June 17, 2008

China Factory Investment May 2008

China's spending on factories and real estate grew 25.6 percent through May, led by property development and boosted by reconstruction work after snowstorms in January and February. Urban fixed-asset investment rose to 4.03 trillion yuan ($585 billion) in the first five months from a year earlier, according to the latest data from the Chinese statistics bureau. This follows a gain of 25.7 percent in the four months to April. Im May the year on year increase over May 2007 was 25.7 percent.

Investment in real-estate development was up 31.9 percent in the first five months from a year earlier. Spending on non- ferrous metals jumped 41.5 percent and coal surged 47 percent. China is rebuilding roads, power lines, factories and homes after the worst snowstorms in half a century and the May 12 earthquake that killed more than 69,000 people.

New investment projects rose by 9,667 in the first five months from a year earlier to 84,368. Planned spending on those ventures was 2.72 trillion yuan, down 2.5 percent.

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