SHANGHAI, Oct 22 (AFP): China's overall fixed asset investment rose 25.7 percent in the first nine months of 2007 from a year earlier, slightly slower than growth in the first half of the year, the central bank said.
Growth in fixed asset investment for the period, which covers both urban and rural areas, was 0.2 percentage points lower than 25.9 percent in the first half, Wu Xiaoling vice governor of the central bank said in statement posted on the central bank's website yesterday.
Official data showed that urban fixed-asset investment rose 26.7 percent in the first eight months of 2007 from a year earlier compared with 26.6 percent growth rate for the first seven months.
China provides only overall fixed asset investment, a rough measure of spending on major infrastructure projects, on a quarterly basis, publishing the smaller urban figure the months in between.
Speaking at G-7 meeting in Washington Wu said China had too large a trade surplus, while overly rapid investment and loan growth were prominent problems in the economy.
"Inflation pressure is adding up... it is an important task for the government to prevent the economic growth from overheating," she said.
Retail sales for the period increased 15.9 percent year on year while inflation-adjusted retail sales rose 12.3 percent, 0.3 percentage points lower than the same period last year, Wu added.
China's 9 months fixed asset investment up 25.7 pc
FE Team | Published: October 23, 2007 00:00:00 | Updated: February 01, 2018 00:00:00
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