China state planner's May fixed-asset investment approvals surge

BEIJING : China's state planner said on Thursday that it approved 121 billion yuan ($18.1 billion) in fixed-asset investment projects last month, a jump of more than six-fold from April, as authorities stepped up efforts to stabilise the economy.

In May, 10 fixed-asset investment projects were approved, said Meng Wei, spokeswoman at the National Development and Reform Commission, at a news conference.

In April, the state planner approved eight fixed-asset investment projects, worth a total of 18.8 billion yuan.

($1 = 6.6964 Chinese yuan renminbi)