Shanghai invested 216.43 billion yuan (27.1 billion U.S. dollars) in fixed assets in the first seven months of this year, a growth of 10.8 percent over the year-earlier level.

The growth rate recovered 1.3 percentage points from the Jan.-Jun. period in this business hub of China.

According to latest data provided by the municipal bureau of statistics, of the total, 120.17 billion yuan (15 billion U.S. dollars) went to infrastructure construction and upgrading projects, up 10.3 percent; and 72.68 billion yuan (9.1 billion U.S. dollars) to real estate development projects, up 4.5 percent.

The total also included 66.05 billion yuan (8.3 billion U.S. dollars) used for industrial projects, up 9.1 percent year-on-year, the bureau said.

It is noteworthy that Shanghai is spending more on building industrial development zones, boosting social undertakings and improving infrastructures in its rural areas.

Between January and July, 23.57 billion yuan (2.9 billion U.S. dollars) went to non-farming projects in the local rural areas, up 40.2 percent over the same period last year. The growth rate was 29.4 percentage points higher than that for the total fixed-investment in Shanghai.

The Chinese government is making second-round exertions to cool down the national economy, which is still heated. Fixed-assets investment nationwide soared 29.8 percent year-on-year in the first half year.

Source: Xinhua