BEIJING, Mar 16 (AFP): China's fixed asset investment expanded at a brisker pace in the first two months of the year, official figures showed Thursday, belying government efforts to peg growth to a more sustainable pace.
Capital spending on plant, roads and power grids in urban areas rose 26.6 per cent year-on-year in January and February, the National Bureau of Statistics said.
This compared with 24.5 per cent growth in the first two months of last year despite government pledges to slow down the momentum in Asia's second-largest economy.
For 2005, fixed asset investment rose 25.7 per cent despite the government aiming for 16 per cent as it tried to cool overheating in key sectors, notably real estate.
This year the government is targeting 18 per cent growth, hoping to avoid waste and duplication in an economy already suffering from overcapacity.