SW China municipality reports double-digit rise in fixed asset investment

Chongqing Municipality in southwest China reported 200.6 billion yuan (25.1 billion U.S. dollars) of fixed asset investment in 2005, up 23.7 percent year-on-year, the city's statistical bureau said.

About 74.2 percent of the investment, or 148.9 billion yuan (18.6 billion U.S. dollars), was spent on construction or renovation projects, representing a 22.3-percent rise over the same period of 2004, the bureau said in its latest report on the city's economic growth.

The manufacturing sector received 56.47 billion yuan (7 billion U.S. dollars) of fixed asset investment in 2005, up 41.8 percent year-on-year.

In the meantime, fixed asset investment in the real estate sector went up 27.8 percent year-on-year to hit 51.77 billion yuan (6.47 billion U.S. dollars).

Source: Xinhua