China approves 102 projects worth 39 bln USD in H1

Source: Xinhua | 2018-07-18

China's economic planning agency approved 102 fixed-asset investment (FAI) projects with a combined investment totaling 260.3 billion yuan (about 39 billion U.S. dollars) in the first half of 2018.

The projects were mainly in high-tech, social service programs and water conservation industries, Yan Pengcheng, spokesperson for the National Development and Reform Commission, told a press briefing on Tuesday.

Data on Monday showed China's FAI grew 6 percent year on year in the first half of this year, 1.5 percentage points lower than that of the first three months.

FAI in high-tech manufacturing displayed strong momentum by growing 13.1 percent year on year, outpacing the country's general FAI growth by 7.1 percentage points.