China's fixed asset investment up 42.8 pct in first four months

China's fixed asset investment in the first four months rose 42.8 percent from a year earlier to 1.1 trillion yuan (about 133 billion US dollars), according to statistics released by the National Bureau of Statistics (NBS) on Tuesday.

The growth rate was five percentage points lower than in the first three months, the NBS said.

In the first four months, China's fixed asset investment was still growing at a high speed, with many newly-started projects in the country, according to the NBS.

However, China's macroeconomic control measures have shown impact, as seen from the slowing-down of the fixed asset investment growth rate, especially in the real estate sector, the NBS said.

All major industrial sectors, excluding petrol processing industries, reported a falling trend in their investment growth rate in the period.

Although the number of the newly-started projects was still growing, it was put under control in April.

In the first four months, urban construction projects grew 26.7percent year-on-year, with newly-started ones growing 30.5 percent.However, newly-started projects only grew 5.9 percent in April.

Meanwhile, the investment in the real estate sector rose 34.6 percent in the first four months from a year earlier, with the growth rate in April slowing down to 22.8 percent.

Statistics show that in April alone, China's fixed asset investment rose 34.7 percent year-on-year to 398.9 billion yuan (48 billion dollars), 8.8 percentage points lower than in March.

Source: Xinhua