CHINA’S fixed-asset investment hit 1.81 trillion yuan (US$285 billion) in the first nine months of this year as the country seeks to provide a lift to the economy, the National Development and Reform Commission said yesterday.
The NDRC, the country’s top economic planner, approved 84 transport infrastructure projects with investments of 991 billion yuan in China in the January-September period. The government aims to use the investments in public transport to boost its economy and balance regional development, said Li Pumin, secretary-general of the NDRC.
To encourage innovation and entrepreneurship, 20.8 billion yuan was invested in high-tech and information in the same period, Li said.
He said 166.9 billion yuan had been invested in China’s public service sector in the first three quarters as part of government efforts to improve public infrastructure in remote regions.
Foreign investment in China rose 9 percent to US$94.9 billion in the same period, Li said.