No Slowdown Yet In Chinese Factories, Real Estate

Investment in factories jumped by 23 percent in first two months of the year.

BEIJING (AP) - Investment in factories and other urban fixed assets in China soared by 23.4 percent in January-February despite official efforts to rein in a construction boom, according to data reported Friday.

Investment totaled 653.5 billion yuan ($84 billion), the National Bureau of Statistics reported. The growth rate was 0.6 percentage points below the rate reported in 2005.

Investment in real estate, where the government has been struggling to rein in a building boom, rose by 24.3 percent to 178.6 billion yuan ($23 billion), according to the statistics bureau.

The fastest-growing area was investment in China's railways, which rose 97.2 percent, while investment in the oil and gas industry was up 3.3 percent, according to the report.

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