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Xinhua Silk Road
Economy

China approves FAI projects worth 87.3 bln yuan in April

May 18, 2021


Abstract : China's top economic planner approved 12 fixed-asset investment (FAI) projects in April, with combined investment totaling 87.3 billion yuan (about 13.56 billion U.S. dollars), official data showed on Tuesday.

BEIJING, May 18 (Xinhua) -- China's top economic planner approved 12 fixed-asset investment (FAI) projects in April, with combined investment totaling 87.3 billion yuan (about 13.56 billion U.S. dollars), official data showed on Tuesday.

The projects were mainly in the transport and informatization sectors, according to the National Development and Reform Commission.

China's FAI increased 19.9 percent year on year to 14.38 trillion yuan in the first four months of 2021, with continued improvements in investment structure, according to the National Bureau of Statistics.

The double-digit growth was driven by a low comparative base early last year, when COVID-19 paralyzed economic activities in China. Compared with the 2019 level, FAI growth came in at 8 percent during the January-April period.

FAI includes capital spent on infrastructure, property, machinery and other physical assets. Enditem

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Keyword: FAI projects

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