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Investment in China's electronics and IT sector surges 67.7 pct in Jan-Aug

0 Comment(s)Print E-mail Xinhua, October 1, 2011
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Fixed-asset investment in China's electronics and information technology sector soared 67.7 percent year-on-year during the first eight months of this year, according to the Ministry of Industry and Information Technology (MIIT).

The investment upsurge was driven by local governments' efforts to develop the country's strategic emerging industries, the MIIT said.

Fixed-asset investments in the sector totaled 56.02 billion yuan (8.76 billion U.S. dollars) in the first eight months.

The sector's growth rate during the January-August period was more than double that of the same period last year, according to the MIIT.

In August alone, fixed-asset investment in the sector increased 70.8 percent year-on-year, reaching 79.55 billion yuan. Growth in August was 5.6 percentage points higher than that of July.

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