China completes $1.15 trillion investment in major projects by end-2016
BEIJING – China completed 7.92 trillion yuan (923.40 billion pounds) worth of investment in major projects by end of 2016, the state planner said on Wednesday.
The National Development and Reform Commission (NDRC) released the figure in a handout before a regular news briefing in Beijing.
About 30 percent of the total investment – 2.39 trillion yuan – went into major infrastructure projects in the information, power grid and oil and gas sectors, the NDRC said.
China also dedicated about 22 percent of the total investment into major projects in transportation, including the construction of railways, highways and airports.
The nation’s investment in clean energy came in at 1.18 trillion yuan, making up about 15 percent of total investment.
Another 679.9 billion yuan has been spent in targeting pollution issues, such as air pollution prevention projects.
In comparison, China has only spent 30.4 billion yuan in major projects aimed at upgrading its manufacturing sector and increasing the sector’s “core competitiveness”, according to the NDRC handout.