China's fixed assets investment in the urban areas stood at 5.5792 trillion yuan (about 668 billion US dollars) in the first ten months of this year, up 27.6 percent year-on-year, according to a monthly report released Wednesday by the National Bureau of Statistics (NBS).

The fixed assets investment in the urban areas for October alone increased by 27.2 percent over the same month last year.

According to the report, during the January-October period, the investment by the state-owned and other entities with State controlling shares reached 2.8258 trillion yuan, a rise of 11.2 percent year-on-year.Investment in real estate development for the period grew by 21.6 percent year on year to reach 1.1769 trillion yuan.

The investment in primary, secondary and tertiary industries rose by 20.7 percent, 35.9 percent, and 22.3 percent respectively, the report says.

The report also reveals a 76.3 percent growth of investment in coal mining and dressing, which reached 76.8 billion yuan.

Investment in such sectors as electricity, oil and transportation reached 476.8 billion yuan, 104.3 billion yuan and 72.2 billion yuan during this period, up 76.3 percent, 33.2 percent, 31.3 percent and 44.1 percent, respectively, over the same period of 2004.

The planned investment in projects under construction rose 27.8 percent year-to-year to 15.9 trillion yuan while investment in newly-initiated projects reached 5.1 trillion yuan, up 28.5 percent over the corresponding period last year.

Source: Xinhua