China approves fixed-asset investment projects worth 1.02 bln USD

Source: Xinhua | 2019-12-23

China's top economic planner approved eight fixed-asset investment (FAI) projects with combined investment totaling 7.1 billion yuan (about 1.02 billion U.S. dollars) in November, official data showed.

The projects were mainly in the energy industry, according to Meng Wei, a spokesperson with the National Development and Reform Commission.

China continued to see steady growth in FAI, boosted by robust high-tech investment and improving trend in some weak areas.

The FAI grew 5.2 percent year on year in the first 11 months of 2019, according to the National Bureau of Statistics.

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