The investments in fixed assets in south China's Guangdong Province totaled 373.82 billion yuan (about 46.09 billion US dollars) in January-August period, up 16.3 percent from the same period last year.

But the growth rate was 1.5 percentage points lower than that of January-July period, the provincial statistical bureau said.

Of the total, 197.36 billion yuan (24.34 billion US dollars) went for capital construction, up 24 percent, and 42.53 billion yuan (5.24 billion US dollars) was spent on renovation, up 4.3 percent, while 85.18 billion yuan (10.5 billion US dollars) was invested in real estate developments, up 10.9 percent.

Guangdong, which borders Hong Kong and Macao, is one of the most dynamic economic regions in China. It has grown into one of China's leading players in export-oriented economy after it was chosen to pilot the country's drive of reform and opening-up more than two decades ago.

Source: Xinhua