China Fixed-Asset Investment Still Has Strong Growth Momentum, Sheng Says

China’s fixed-asset investment will still see strong growth momentum, spurred by new projects under regional initiatives such as the western development plan, statistics bureau spokesman Sheng Laiyun told a briefing in Beijing today after the release of July economic data.

Investment in property development may also accelerate due to an increase in the number of new projects, he said. The threat of having land confiscated due to government rules on hoarding may encourage the development of land by real-estate companies, Sheng said.

To contact the reporter on this story: Yanping Li in Beijing at yli16@bloomberg.net

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