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China approves projects worth USD 20 bn in April

Press Trust of India  |  Beijing 

approved 12 projects in energy, water conservation and transportation sectors with an investment of USD 20.56 billion last month, officials said today.

The country's planning body approved the 12 fixed-asset investment projects worth 141.6 billion yuan (about USD 20.56 billion) in April.

The projects were mainly in the areas of energy, water conservation and transportation, Meng Wei, spokesperson of the National Development and Reform Commission (NDRC), said.

Of the 12 projects, five were related to energy, said Meng, who pointed to one project on the east route of the China-natural gas pipeline as an example.

The pipeline project, which commenced in 2014, will diversify China's natural gas and ensure a steady natural gas supply domestically, said Meng.

Under a 30-year contract, the east route pipeline will export 38 billion cubic meters of natural gas from to annually from 2018.

China's investment in fixed assets rose 8.9 per cent year on year in the first four months of 2017, down from 9.2 per cent in the first quarter, data from the National Bureau of Statistics showed.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, May 18 2017. 18:29 IST