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China approves FAI projects worth 370b yuan in November

Xinhua| Updated: Dec 21, 2020


Photo taken on Dec 15, 2020 shows a new type of middle-to-low-speed magnetic-levitation train finished in Changchun of Northeast China's Jilin province. [Photo/Xinhua]

BEIJING -- China's top economic planner approved 26 fixed-asset investment (FAI) projects in November, with combined investment totaling 370.4 billion yuan (about $56.7 billion), official data showed.

The projects were mainly in the transport, informatization and energy industries, according to the National Development and Reform Commission.

China's FAI went up 2.6 percent year on year in the first 11 months of the year, 0.8 percentage points higher than the rise in the first 10 months, data from the National Bureau of Statistics showed.

On a month-on-month basis, the country's fixed-asset investment climbed 2.8 percent in November.

During the first 11 months, investment by the private sector rose 0.2 percent, the first growth registered this year.

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