China says spending on construction, factory equipment up 25.7 percent in January-April

Thu, May 15 11:26 AM

SHANGHAI, China (AP) _ China's spending on real estate and other fixed urban assets rose 25.7 percent in the first four months of the year compared with the same period a year ago, the National Statistics Bureau reported Thursday. The bureau said investment in construction, factory equipment and other such assets totaled 2.84 trillion yuan (US$406 billion; 263 billion).

The growth rate was slightly above the 25.5 percent increase in such investments in January-April 2007 and compared with a 24.6 percent increase in the first three months of this year, the statistics bureau said. Regulators have repeatedly raised interest rates and tightened lending policies, seeking to curb a boom in such investments, which they fear could precipitate a financial crisis and hamper efforts to cool inflation.

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