China’s Fixed-asset Investment Up 27.3 Percent

From AFP:

China’s urban fixed-asset investment rose 27.3 percent in the first seven months of 2008 compared with a year earlier, official figures showed Friday, stoking hopes of robust economic growth.

Fixed-asset investment in cities was 7.22 trillion yuan (1.05 trillion dollars) for the period, the National Bureau of Statistics said. The investment is seen as boosting the economy’s productive capacity.

“In July, fixed-asset investment again accelerated to a certain extent,” the bureau said a statement. “That’s positive for tackling the issues arising from a weakening in external demand.”