China approves 5 fixed-asset investment projects worth $11.45 billion in Aug

China approves 5 fixed-asset investment projects worth $11.45 billion in Aug

BEIJING : China’s state planner the National Development and Reform Commission (NDRC) in August approved five fixed-asset investment projects worth 80.2 billion yuan ($11.45 billion), NDRC spokesperson Meng Wei told a news conference on Monday.

That compared with eight fixed-asset investment projects worth 236.8 billion yuan approved in July.

China’s economy perked up in August, with faster-than-expected growth in factory output and retail sales shoring up a fragile recovery, but was dragged down by a property crisis.

($1 = 7.0043 Chinese yuan renminbi)

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