China's Year-to-Date Investment in Fixed Assets up 27 percent

From January to September 2008, China's investment in fixed assets reached $1.68 trillion, an increase of 27 percent year over year, reports Industrial Info Resources (Sugar Land, TX). Urban investment in fixed assets reached $1.45 trillion, an increase of 27.6 percent year over year; rural investment reached $237.32 billion, an increase of 23.3 percent year over year. Among the urban investment in fixed assets, state-owned and state-controlled enterprises invested $599.42 billion, up 21.8 percent, and real estate development enterprises invested $308.38 billion, up 26.5 percent.

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Investments of domestic funds enterprises reached $1.30 trillion, up 28.6 percent from the same period last year. Enterprises with funds from Hong Kong, Macao and Taiwan reached $64.7 billion, rising 19.3 percent. Foreign-funded enterprises reached $79.10 billion, up 17.4 percent year over year.

Construction

As of the end of September, the cumulative number of urban construction projects over $72,000 (RMB 500,000 yuan) was 288,326, a year-on-year increase of 29,243. Investment planned in projects under construction reached $3.8 trillion, up 18.1 percent. The number of projects started this year reached 190,683, a year-on-year rise of 20,560. Total planned investment of new projects was $888.55 billion, an increase of 1.7 percent year over year.

In terms of volume of positioned funds, investment in urban areas reached $1.59 trillion, a year-on-year rise of 23.4 percent. Of this, domestic loans, foreign investment, and self-rising funds rose 14.5 percent, 6.8 percent and 33.4 percent year over year, respectively.

From January to September 2008, the price of investment in fixed assets rose 10.3 percent. Of this, the price of construction-installation engineering rose 15.1 percent, equipment and tool procurement was up 0.6 percent, and other expenses were up 5.7 percent.

(Based on the exchange rate of US$ 1 = RMB 6.9 yuan)