China approves investment projects worth 701b yuan in H1

BEIJING - China's top economic planner approved 91 fixed-asset investment projects with combined investment totaling 701.1 billion yuan ($98.12 billion) 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.