NW province enjoys consecutive increase of fixed asset investment

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Last updated at: (Beijing Time) Sunday, October 05, 2003

NW province enjoys consecutive increase of fixed asset investment

Northwest China's Shaanxi province saw a 54.5 percent increase of investment in fixed assets in the first eight months over the same period last year, statistics show.

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Northwest China's Shaanxi province saw a 54.5 percent increase of investment in fixed assets in the first eight months over the same period last year, statistics show.

The increase was 32.7 percentage points higher than that of last year.

The province has enjoyed a consecutive snowballing increase of investment in fixed assets in the past six years, which provincialstatistician Yang Yongshan said was a result of the country's policy of developing the western regions.

The investment in fixed assets in the first eight months in theprovince reached 57.245 billion yuan (6.9 billion US dollars). Thefigure for the whole of 1996 was 37.199 billion yuan (4.5 billion US dollars ).

The province invested in the first eight months over 36 billionyuan (4.4 billion US dollars) in infrastructure, rising more than 45 percent over the same period last year.

Over nine billion yuan (1.09 billion US dollars) was injected into renovation projects during the eight months, up 76.3 percent.

The real estate sector received an investment of over 10 billion yuan (1.2 billion US dollars) in the period, rocketing 79 percent.

The province also strengthened its investment in agriculture during the first eight months by injecting 2.186 billion yuan (263million US dollars) into the sector, an increase of 61.7 percent.

The province's increase of investment in fixed assets in the first eight months was 31 percentage points higher than that of the nation's average and 23.7 percentage points higher than that of the average of western provinces and autonomous regions.

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