China's growth in urban fixed asset investment down in November

China's growth in urban fixed asset investment in November was down 1.5 percent from the previous month, due in part to the government's efforts to curb over-investment.

China's overall investment in urban fixed assets totaled 571.8 billion yuan (69.7 billion US dollars) in November, excluding projects involving less than 500,000 yuan (60,975 US dollars) in fixed asset investment, the National Bureau of Statistics said in a statement in Beijing.

China posted a year-on-year growth of 28.9 percent in fixed assets investment in urban areas during the first 11 months, which totaled 4.93 trillion yuan (600.9 billion US dollars).

The growth rate was down 0.6 percent compared with the first 10 months of this year.

The overall investment included 2.84 trillion yuan (354.89 billion US dollars) from state-owned and state-controlled firms. This is an increase of 23.8 percent.

Investment in real estate sector stood at 1.07 trillion yuan (130.9 billion US dollars) during the 11 months, up 29.2 percent, the bureau said.

Source: Xinhua