BIZCHINA / Center
Fixed-asset investment up 25.9%
(Bloomberg)
Updated: 2007-06-15 15:26
China's factory and property investment surged, fueling speculation that
an interest-rate increase is imminent after exports, industrial
production and inflation accelerated.
Related readings:
Inflation hits 27-month high with CPI up 3.4%
Fast industrial growth increases pressure for rates hike
China's retail sales accelerate on rising incomes
Experts divided on another interest rate hike
Fixed-asset investment up 25.5%
Fixed-asset investment in urban areas rose 25.9 percent in the first five
months from a year earlier to 3.2 trillion yuan ($420 billion), the
statistics bureau said in Beijing today. The increase was 25.5 percent in
the first four months.
"The economy is absolutely booming and after a brief correction the stock
market has taken off again," said Jing Ulrich, chairwoman of China
equities at JPMorgan Chase & Co. in Hong Kong. "Clearly the central bank
has a tightening bias after this week's economic data."
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