China's investment in urban fixed assets surges

China had invested a total of 2,711.6 billion yuan (about 330 billion US dollars) in fixed assets in urban areas from Jan. to July, an increase of 31.1 percent over the same period of 2003.

According to a monthly report released Wednesday by the National Bureau of Statistics (NBS), from Jan. to July, investmentin central projects reached 5.7 percent, down 4.4 percent from theJan. to June rate. Investment in local projects increased by 37.2 percent, down 1.3 percent.

The investments in the first, second and third industries have increased by 15 percent, 42.5 percent and 24.6 percent.

During the same period, the investment in the development of real estates rose by 28.6 percent year on year.

A total of 3,161.4 billion yuan (382.7 billion US dollars) hadreached designated accounts from Jan. to July, up 33.6 percent on a yearly basis, of which 696.3 billion yuan (84 billion US dollars) were loans and 1,592.4 billion yuan (192.7 billion US dollars) privately raised capital.

Source: Xinhua