China's fixed-asset investment up 20.4% in H1

BEIJING -- China's urban fixed asset investment rose 20.4 percent year-on-year to 15.07 trillion yuan ($2.38 trillion) in the first half of 2012, the National Bureau of Statistics announced Friday.

The growth rate moderated by 0.5 percentage point compared to that in the first quarter, and was down 5.2 percentage points from the same period last year, the NBS data showed.

During the first half, investment in the primary industry amounted to 365.4 billion yuan, up 28.6 percent; that in the secondary industry totaled 6.78 trillion yuan, up 23.7 percent; investment in the tertiary industry rose 17.4 percent to hit 7.93 trillion yuan.

Investment in the nation's central regions grew the fastest by 25.3 percent, followed by 23.9 percent in the west, and 19.3 percent in the east.

Infrastructure (excluding the production and supply facilities for electricity, gas, and water) investment rose 4.4 percent to 2.18 trillion yuan in the first half, reversing a 2.1-percent decline in the first quarter, the NBS data showed.

Investment in the nation's property sector totaled 3.06 trillion yuan in the first half. The investment growth during the period slowed to 16.6 percent year-on-year, down 6.9 percentage points from the first quarter, according to the data.

NBS data released Friday also showed the Chinese economy further slowed to 7.6 percent in the second quarter from 8.1 percent in the first.

Premier Wen Jiabao said earlier that stabilizing investment currently plays a key role in expanding domestic demand and maintaining growth, the most pressing matter currently facing the nation.

He said investment should be made in accordance with the national medium and long-term development program and serve the needs of urbanization, economic restructuring and people's well-being.