China NDRC approves 16 fixed-asset investment projects worth $6.96 billion in first quarter

General view shows the traffic during the evening rush hour in Beijing

BEIJING (Reuters) – China’s state planner said on Monday that it approved 16 fixed-asset investment projects worth a total of 45.4 billion yuan ($6.96 billion) in the first quarter of this year.

The projects are mainly in the transportation, high technology and energy sectors, Meng Wei, a spokesperson for the National Development and Reform Commission (NDRC), told reporters at a regular briefing.

The NDRC also said that China’s power consumption surged 21.2% in the first quarter from a year earlier.

($1 = 6.5252 Chinese yuan renminbi)

(Reporting by Liangping Gao and Ryan Woo; Editing by Christopher Cushing)

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