Published: 14:10, May 21, 2024
China approves fixed-asset investments worth 320.7b yuan in Jan-April
By Xinhua
A technician works at the fuel cell test area at the hydrogen energy technology center of Great Wall Motor in Baoding, north China's Hebei province, July 15, 2021. (PHOTO / XINHUA)

BEIJING - China's top economic planner has approved 50 fixed-asset investment projects worth 320.7 billion yuan (about $45.1 billion) in the first four months of this year.

These projects are primarily in the high-tech industries and water conservation, the National Development and Reform Commission (NDRC) spokesperson Li Chao told a press conference on Tuesday.

From January to April, the country's fixed-asset investment expanded 4.2 percent year-on-year to 14.34 trillion yuan, buoyed by government policies designed to expand effective investment

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In April alone, the NDRC approved 20 fixed-asset investment projects worth 115.2 billion yuan, Li said.

From January to April, the country's fixed-asset investment expanded 4.2 percent year-on-year to 14.34 trillion yuan, buoyed by government policies designed to expand effective investment.

Boosted by government policies, investment in large-scale equipment renewals registered relatively fast expansion. During the period, investment in equipment and instruments rose by 17.2 percent compared with a year earlier, 13 percentage points higher than the overall investment growth pace.

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Looking ahead, efforts will be made to fully leverage the role of market entities and guide the private firms to invest and actively participate in the equipment renewals and trade-ins of consumer goods, Li said.