SteelOrbis Shanghai
China's urban fixed assets investment for the January-November period of 2008 totaled RMB 12.7614 trillion ($1.8657 trillion), up 26.8 percent compared with the same period last year. This growth was 0.4 of a percentage point lower than that for the first ten months of the current year. Investment in real estate development totaled RMB 2.6546 trillion ($269.4 billion), up 22.7 percent year on year, a decrease of 1.9 percentage points compared with the growth for the first ten months of this year. Generally speaking, the above figures represent a considerable shrinkage in both fixed assets investment and real estate investment for November.
Broken down into the various industrial sectors, investment in coal mining and dressing increased 34.8 percent year on year to RMB 195.7 billion ($28.6 billion); electricity and heat power supply industry investment increased 15.7 percent to RMB 785.8 billion ($114.9 billion); oil and gas exploration investment rose 34.8 percent to RMB 221.9 billion ($32.4 billion); investment in railway transportation went up 41.1 percent to RMB 257.1 billion ($37.6 billion); investment in non-metal minerals mining and processing increased 46.9 percent to RMB 401.1 billion ($58.6 billion); investment in ferrous metals mining and processing saw a rise of 31.9 percent to RMB 347.2 billion ($50.7 billion); and, finally, investment in non-ferrous metals mining and processing increased 41.6 percent to RMB 218.9 billion ($32 billion).
By the end of November there were 328,977 urban projects under construction, up by 26,170 projects year on year; the total investment in these projects was RMB 28.8467 trillion ($4.2174 trillion), up 19.7 percent year on year. Meanwhile, newly launched projects during the current year up to the end of November stood at 228,776, up 17,649 year on year; a total investment of RMB 7.7539 trillion ($1.1336 trillion) is scheduled for the projects in question, up 5.4 percent compared with the same period last year.