China’s NDRC approves 26 fixed asset investment projects in Nov

Friday, 18 December 2020 15:41:15 (GMT+3)   |   Shanghai

Meng Wei, spokesman for China’s National Development and Reform Commission (NDRC), has stated that the NDRC approved 26 fixed asset investment (FAI) projects in November this year, with an overall FAI of RMB 370.4 billion ($57.0 billion), mostly covering transportation, informatization and energy.

Meanwhile, the China Academy of Information and Communications Technology (CAICT) has forecast that the information and communications technology (ICT) industry will undergo strong development as China’s new FAI in infrastructure will reach RMB 1.06 trillion ($0.16 trillion) in the 2021-25 period, accounting for 10 percent of overall FAI in infrastructure in the given period, which will boost the development of the ICT industry.

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