China's fixed-asset investment up in July

China’s fixed-asset investment up in July

China's fixed-asset investment rose 27.7 percent year on year in July as spending on oil refineries and coal mines increased. For the first seven months of the year, fixed-asset investment rose 27.2 percent year on year to RMB 3.46 trillion (around $427 billion), according to China's National Bureau of Statistics (NBS). That followed a year-on-year rise of 27.1 percent in the first half of the year. Investment in new coal mines jumped 83.2 percent, reflecting the rapidly growing economy's insatiable thirst for energy. Investment in oil processing increased 15.1 percent in the first seven months of the year after 7.8 percent growth in the first half.