China’s energy investments see large jump
Investments in coal mines and energy infrastructure showed strong growth over the past year as China attempted to reduce the strain on its power supplies. China's fixed asset investment grew 27.4 percent year on year through January-August 2005 to reach RMB 4.12 trillion (approximately US$509 billion). State-owned and controlled establishments contributed to half of the overall investment with RMB 2.08 trillion ($257.2 billion), up 11.6 percent year on year Investment in coal mines increased 81.9 percent to RMB 54.6 billion. In addition, electricity, water and gas production and supply investments increased 35.1 percent to RMB 399 billion. The steel industry saw a 25 percent year-on-year increase in investments, to RMB 149 billion, through the first eight months of the year. In August alone, fixed asset investments increased 28.5 percent year on year.