Fixed-asset investment in China's electronic and information industry hits $30.85 bln in first seven months
Shanghai. August 27. INTERFAX-CHINA - Fixed-asset investment in China's electronics and information industry rose by 18.1 percent year-on-year to RMB 210.78 billion ($30.85 billion) in the first seven months of this year, the Ministry of Industry and Information Technology (MIIT) announced on Aug. 27.
Between January and July, the MIIT approved 2,800 investment projects within the industry, 935 more than during the same period in 2008.
Fixed-asset investment in China's telecom and PC sectors soared over the seven-month period, up 39.3 percent year-on-year to RMB 18.79 billion ($2.75 billion) and 15.8 percent year-on-year to RMB 15.81 billion ($2.31 million) respectively.
However, the figure for the electronic component and apparatus sector declined by 0.4 percent on an annual basis to RMB 94.41 billion ($13.82 billion).
From January to July, fixed-asset investment in the electronics and information industry by foreign companies and joint ventures between Chinese and foreign entities declined by 10.8 percent year-on-year to RMB 78.64 billion ($11.51 billion), while that by domestic companies soared by 46.4 percent to RMB 132.14 billion ($19.34 billion), according to the MIIT.
MIIT figures revealed that fixed-asset investment in the industry rose by 80.5 percent year-on-year in the country's western regions, by 41.2 percent in its central regions and by 2.8 percent in its eastern regions.
The MIIT said in the same announcement that it is confident that fixed-asset investment in China's electronic information industry will continue to grow steadily over the remainder of 2009.
-HJL