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Growth in China's fixed asset investment slows

2014-11-13 16:31 Xinhua Web Editor: Qin Dexing

Growth in China's fixed asset investment continued to dip in the first 10 months of the year, weighed down by a cooling property sector and weak domestic demand, official data showed on Thursday.

Urban fixed-asset investment rose 15.9 percent from a year ago to 40.62 trillion yuan (6.62 trillion U.S. dollars) in the first 10 months of 2014, the National Bureau of Statistics (NBS) said.

The pace of growth slowed from a 16.1-percent increase in the January-September period and a 20.1-percent rise in the same 10 months of 2013.

The NBS said property investment continued to cool in the first 10 months, growing 12.4 percent year on year, down 0.1 percentage point from the growth rate in the first nine months.

Between January and October, investment in the primary industry was up 28.9 percent, followed by 17.4-percent growth in the tertiary industry and 13.4 percent in the secondary.

During the period, investment in infrastructure (excluding the power industry) climbed 22.6 percent to 6.77 trillion yuan, with the growth pace accelerating by 0.4 percentage points from that in the Jan.-Sept. period.

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