Mar. 5, 2012 (China Knowledge) - China's fixed-asset investment growth is expected to reach 16% this year, lower than 18% in 2011 and 20% in 2010, said the National Development and Reform Commission
The move to cut the fixed-asset investment growth target is parts of the Chinese government's plans to ease the country's property market and curb inflation, said an analyst.
In 2011 and 2010, China's fixed-asset investment growth was both 23.8%, and figure reached 30.1% in 2009. NDRC
noted the central government has allocated RMB 69 billion on indemnificatory housing project for 2012, RMB 10 billion more than that of last year.
Gross retail sales in China are estimated to increase by 14% this year, lower than its target of 16% in 2011.
In 2012, China expects to attract US$120 billion worth of foreign direct investment, up 3.5% from a year earlier, and the country's direct investment in the overseas market would grow 10% to US$66 billion this year, NDRC