China approves investment projects worth 701 bln yuan in H1

BEIJING, July 18 (Xinhua) -- China's top economic planner approved 91 fixed-asset investment projects with combined investment totaling 701.1 billion yuan (about 98.12 billion U.S. dollars) in the first half (H1) of 2023, said the National Development and Reform Commission on Tuesday.

The projects were mainly in energy, high-tech, transportation and water conservancy industries, according to Jin Xiandong, an official with the commission.

China's fixed-asset investment went up 3.8 percent year on year in the January-June period, hitting 24.31 trillion yuan, according to the National Bureau of Statistics.

Fixed-asset investment includes spending on infrastructure, property, machinery and other physical assets.