China's investment in factories, real estate and other urban assets in the first eight months of the year rose 26.7 per cent from the same period last year, the government reported today.
Total investment in urban fixed assets from January to August was 6.6 trillion yuan ($880 billion), the National Bureau of Statistics reported.
Spending on real estate rose 29 per cent from a year earlier, while spending on other assets rose 16.7 per cent.
The government is trying to rein in investment in real estate and industries, including cars and textiles, to control soaring housing prices and head off overspending that Chinese leaders worry could ignite a financial crisis.
But the flood of money pouring in from China's exports has made it difficult to contain investment.