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China's investment in electronics & IT sector up 6.1% in Jan-Oct

Dec. 3, 2012 (China Knowledge) - The fixed assets investment in China's electronics and IT sector grew 6.1% YoY to RMB 781 billion in the first ten months of this year, according to the statistic released by the Ministry of Industry and Information Technology (MIIT).

The growth rate was 54 percentage points lower than that in the same period in 2011, said the ministry.

From January to October, investment in electron device and information electromechanical industry decreased 11.8% and 10.2% YoY to RMB 162.1 billion and RMB 151.2 billion, respectively. However, that in broadcast television, household audio-visual and communication equipment industry hit RMB 20.1 billion, RMB 15.1 billion and RMB 53 billion, up 180.6%, 44.3% and 30.3% YoY, respectively.

In the first ten months, the fixed assets investment in China's electronics and IT sector from the eastern region hit RMB 412.9 billion, reflecting a YoY decrease of 4.6%, while that from the central region and the western region rose 28.7% and 6.5% YoY to RMB 225.8 billion and RMB 104.4 billion, respectively.

China's domestic enterprises generated RMB 619.7 billion in fixed assets investment during the ten-month period, up 13.1% YoY, while that from foreign invested enterprises dropped 14.2% YoY to RMB 91.4 billion.

China saw its newly-added fixed assets investment hit RMB 382.9 billion during the ten-month period, up 9.3% from the previous year, while the number of new projects increased 7.1% YoY to 6,395.

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