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China's fixed-asset investment up 15.8 pct

Source:   Time:

BEIJING, Dec. 12 (Xinhua) -- China's fixed asset investment rose 15.8 percent from one year earlier to 45.11 trillion yuan (7.37 trillion U.S. dollars) in the first 11 months of 2014, the National Bureau of Statistics (NBS) said on Friday.

But the pace of growth slowed further from the 15.9 percent growth registered in the January-October period and 16.1 percent growth in the January-September period.

The calculation does not include fixed-asset investment by farmers. It covers projects with investment of at least 5 million yuan, as well as all property development projects.

Between January and November, fixed-asset investment in primary industry grew the most, up 29.9 percent year on year to 1.09 trillion yuan. This growth is 1 percentage point higher than that recorded in the first ten months.

Fixed-asset investment in tertiary industry grew 17.1 percent to 25.2 trillion yuan, up 17.1 percent year on year. But growth was 0.3 percentage points lower than the first ten months.

Fixed-asset investment in secondary industry saw 13.3 percent of growth year on year. Growth dropped 0.1 percentage points from the first ten months.

In terms of regions, fixed-asset investment in China's west witnessed the fastest growth of 17.7 percent during the period from a year earlier to 11.47 trillion yuan. Investment in the central regions grew 17.4 percent year on year to 12.65 billion yuan. The eastern regions attracted 20.58 trillion yuan in fixed-asset investment, up 14.5 percent year on year.

Investment in property rose 11.9 percent in the first 11 months year on year to 8.66 trillion yuan. But the growth rate was 0.5 percentage points lower than in the first ten months.

Private fixed-asset investment climbed 17.9 percent in the first 11 months year on year to 29.13 trillion yuan. But the growth rate was 0.1 percentage points lower than that in the first ten months.

Investment will continue to play a key role in China's economic growth, said a statement issued after the Central Economic Work Conference, a crucial economic policy meeting, on Thursday.

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