China's fixed-asset investment growth further cools in 2014
BEIJING, Jan. 20 (Xinhua) -- The annual growth of China's urban fixed-asset investment continued to cool in 2014 to 15.7 percent, down from 19.6 percent in 2013, the National Bureau of Statistics (NBS) announced on Tuesday.
China's gross domestic product (GDP) grew 7.4 percent in 2014, registering the weakest expansion in 24 years.
Slower growth in fixed-asset investment, which used to be a strong engine for China's fast economic growth, is seen as a key factor in the slower growth in GDP.
Urban fixed-asset investment expanded to 50.2 trillion yuan (about 8.1 trillion U.S. dollars) at the end of 2014, bureau data showed.
The growth rate was 0.1 percentage point lower than that of the first 11 months of 2014, according to the NBS. Enditem