China approves projects worth 35 bln USD in Q1: economic planner

BY  | FROM  | 2017-04-13 14:57

China's top economic planner said Thursday that it had approved 56 fixed-asset investment projects with total investment reaching 240.9 billion yuan (about 35.04 billion U.S. dollars) in the first three months of this year.

"The projects mainly covered water conservation, energy and transportation sectors," said Yan Pengcheng, spokesperson with the National Development and Reform Commission (NDRC).

Water conservation projects took the largest share of the investment, with 99.8 billion yuan going to nine projects, including a flood control project on the Chaohu Lake, the country's fifth largest fresh water lake.

"The NDRC has put more focus on fields such as poverty reduction, agriculture, water conservation and innovation to improve the foundation of sustained economic development," Yan said.

China's fixed-asset investment grew 8.9 percent year on year to 4.1378 trillion yuan in the first two months the year, up from 8.1 percent in 2016, according to the National Bureau of Statistics.

    Related News

      Financial Times

    • Fed fears market misreading of guidance
    • The US Federal Reserve is keen to revamp its forward guidance about future interest rates but terrified of a market misunderstanding, according to the minutes of its September meeting


    • Asian shares rebound after Fed renews dovish credentials
    • Asian shares bounced back and the dollar fell on Thursday after minutes of the U.S. Federal Reserve's latest policy meeting showed policymakers have some concerns about downside risks to the global economy and the dol...


    • Nigeria succeeds at containing Ebola
    • People here are shaking hands again, kissing, hugging, touching. These days, shops are open, people are working, and children are finally going back to 
    Chinese Dictionary: