Projects are primarily in high-tech industries and water conservation
BEIJING: The National Development and Reform Commission (NDRC), China’s top economic planner, has approved 50 fixed-asset investment projects worth about $45.1 billion (320.7 billion yuan) in during the January-April period of the current year..
The spokesperson of NDRC, Li Chao, said at a press conference that the said projects are primarily in the high-tech industries and water conservation.
In April alone, the NDRC has approved 20 fixed-asset investment projects worth $16.20 billion (115.2 billion yuan), the NDRC spokesperson added.
Boosted by government policies, investment in large-scale equipment renewals registered relatively fast expansion. During the period, investment in equipment and instruments rose by 17.2 per cent compared with a year earlier, 13 percentage points higher than the overall investment growth pace.
“Looking ahead, efforts will be made to fully leverage the role of market entities and guide the private firms to invest and actively participate in the equipment renewals and trade-ins of consumer goods,” Li added.
