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The National Bureau of Statistics (NBS)
of China reported a year-on-year
growth of 10.9% in the first half of
2006 valued at USD 1.4 trillion
defying a slew of measures institute
by the Government to slow growth
because of "overheating of
investment."
Unlike India where the Government is
still arguing about what
infrastructure to invest in, Chinese
total investment in roads, factory
equipment and other fixed assets
spiked 29.8%, an increase of 4.4
percentage points from the same period
of last year. Investment in urban
areas in the past six months was the
highest since the 2nd half of 2004 and
grew at 31.3% or 4.2 percentage points
higher than last year. Total
investment in the real estate sector
increased by 24.2, heavy industry by
32.6%, coal and mining by 45.6%,
extraction of petroleum and natural
gas up 30.3%, production and supply of
electricity, gas and water went up by
17.5%. Encouraged by the booming
economic growth, the investment in the
main vehicle transportation railway
went up by 87.6%.
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