Urban investment growth continues
5 July 2007
China's urban fixed-asset investment continued increasing in the first half of this year, according to the latest statistics released by the National Bureau of Statistics, Xinhua reported (in Chinese). Urban fixed investment hit US$95 billion in the first five months of 2007, an increase of 27.5% compared with the same period last year. It is estimated the growth rate will reach 26% in the first half of this year. Most of the capital was invested in energy-intensive industries and the real estate sector. Growth in residents' incomes lagged that of the economy, contributing to an imbalance between investment and consumption.