China investment up 26.7 pc despite curbs
China's investment in factories, realty and other urban assets rose 26.7 per cent during January-August this year.
By Agencies |
BEIJING: China's investment in factories, real estate and other urban assets rose 26.7 per cent in the first eight months of the year, the government reported Friday, despite curbs meant to prevent runaway spending.
The government is trying to rein in investment in real estate and industries including autos and textiles to control soaring housing prices and head off overspending that Chinese leaders worry could ignite a financial crisis. But the flood of money pouring in from China's exports has made it difficult to contain investment.
Total investment in urban fixed assets from January to August was 6.6 trillion yuan (US$880 billion; euro640 billion), the National Bureau of Statistics reported.
Spending on real estate rose 29 per cent, while spending on other assets rose 16.7 per cent, the bureau said.
The government is trying to rein in investment in real estate and industries including autos and textiles to control soaring housing prices and head off overspending that Chinese leaders worry could ignite a financial crisis. But the flood of money pouring in from China's exports has made it difficult to contain investment.
Total investment in urban fixed assets from January to August was 6.6 trillion yuan (US$880 billion; euro640 billion), the National Bureau of Statistics reported.
Spending on real estate rose 29 per cent, while spending on other assets rose 16.7 per cent, the bureau said.
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