China Urban Fixed-asset Investment up 32.9% in First Seven Months

BEIJING, Aug. 11 -- China's urban fixed-asset investment rose 32.9 percent in the first seven months of this year from a year earlier to 9.59 trillion yuan (1.4 trillion U.S. dollars), the National Bureau of Statistics (NBS) announced Tuesday.

    The growth rate was 5.6 percentage points higher than the same period of last year, but 0.7 percentage points lower than the first half of this year, which saw urban fixed-asset investment up 33.6 percent from a year earlier.

    June alone recorded a 35.3-percent rise. The NBS provided no monthly figures for July.

    The growth rate in the primary sector (including farming, fishing and forestry) jumped 62.5 percent from a year earlier.

    The industrial sector saw investment rise 27.8 percent and the tertiary sector, covering commerce, finance and services, saw a 36.5-percent growth.

    China unveiled a 4-trillion-yuan stimulus package in November to boost investment in factories, property, roads and other facilities to counter falling exports and fuel growth of the world's third largest economy.

    (Source: Xinhua)