SteelOrbis Shanghai
China's urban fixed assets investment for the January-August period totaled RMB 8.492 trillion ($1.2415 trillion), up 27.4 percent compared with the same period last year. This growth was 0.1 of a percentage point higher than that for the first seven months of the current year. Investment in real estate development totaled RMB 1.843 trillion ($269.4 billion), up 29.1 percent year on year, a decrease of 1.8 percentage points compared with the growth for the first seven months of this year.
Broken down into the various industrial sectors, investment in coal mining and dressing increased 39.2 percent year on year to RMB 126.4 billion ($18.5 billion); electricity and heat power supply industry investment increased 10.2 percent to RMB 507.6 billion ($74.2 billion); oil and gas exploration investment rose 33.4 percent to RMB 144.2 billion ($21.1 billion); investment in railway transportation went up 27.9 percent to RMB 152.7 billion ($22.3 billion); investment in non-metal minerals mining and processing increased 47.3 percent to RMB 263.9 billion ($38.6 billion); investment in ferrous metals mining and processing saw a rise of 30.6 percent to RMB 228.2 billion ($33.4 billion); and, finally, investment in non-ferrous metals mining and processing increased 42.9 percent to RMB 146.9 billion ($21.5 billion).
By the end of August there were 261,008 urban projects under construction with an investment figure higher than RMB 500,000 ($73,000) for each project, up by 24,008 projects year on year; the total investment in these projects was RMB 24.9446 trillion ($3.6469 trillion), up 17.7 percent year on year. Meanwhile, newly launched projects during the current year up to the end of August stood at 165,683, up 15,932 year on year; a total investment of RMB 5.3229 trillion ($778.2 billion) is scheduled for the projects in question, up 2.5 percent compared with the same period last year.