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China state planner approves investment projects worth 494.4 billion yuan in first half

·1-min read
FILE PHOTO: Buildings are pictured in Beijing's central business district
FILE PHOTO: Buildings are pictured in Beijing's central business district

BEIJING (Reuters) - China's top economic planner, the National Development and Reform Commission (NDRC), said it approved 54 fixed-asset investment projects worth 494.4 billion yuan (£56.2 billion) in the first half of 2020, with eight of them worth 11.4 billion yuan approved in June.

Some domestic industries have not returned to normal, while some companies are still struggling and employment pressure is huge, said an official at the NDRC addressing a press conference on Friday.

Consumer inflation is expected to ease in the second half, the official said.

(Reporting by Stella Qiu and Gabriel Crossley; Editing by Shri Navaratnam)