In October China approved $10 billion worth investment projects

Almaty. November 20. Silkroadnews - In October China approved $10 billion worth investment projects, China Daily reported.
“China’s top economic planner approved 16 fixed-asset investment projects with total investment reaching 66.6 billion yuan (about 10 billion U.S. dollars) in October. The projects were mainly in the energy, transportation and high tech industries, according to Meng Wei, spokesperson with the National Development and Reform Commission (NDRC),” the report said.
As Meng Wei paid attention to the fact that the projects approved include a highly efficient low-carbon gas turbine engine that will play an important role in supporting the independent development of the country in aviation, electric and shipping sectors.
With this it is noted that fixed-asset investments are an important factor of economic growth for China. According to China’s National Bureau of Statistics, fixed-assets investments increased 7.3% year-on-year in the first 10 months of this year, compared with 7.5% in January-September period.