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Tuesday, November 18, 2003

Look AT These Numbers

Accurate or exaggerated, rigged or massaged, realistic or fantasic: these numbers are still incredible. And remember what i said yesterday, is this 'overheating', is this speculative: who the hell knows. Lets just keep watching.

China's investment in fixed assets rose 30 percent from a year earlier to 3.05 trillion yuan ($369.2 billion) in the first 10 months of this year, helping to support a high pace of economic growth, the government reported Tuesday.

Spending on real estate, construction and technical upgrading of plants and equipment, along with exports and foreign investment, has helped keep China's economy growing at rates of 8 percent or more in recent years. However, authorities have recently sought to curb high levels of spending on some fixed assets, particularly in the property sector, urging banks to limit growth in lending.

Overall spending on fixed assets was down 1.2 percent from the pace of investment through the end of September, the National Bureau of Statistics said. Investment in technical upgrades and equipment soared 34.1 percent in the first 10 months from the same period a year before, while real estate investment rose 31.3 percent on-year, the bureau reported. The number of new projects fell 17.8 percent compared with the previous month to 9,056, it said in a statement.
Source: Yahoo News

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