China's electronics, information investment up 26% in first two months

 China's electronics and information industry reported a fixed assets investment of 30.7 billion yuan (4.5 billion U.S. dollars) in January and February, up 25.6 percent year on year, the Ministry of Industry and Information Technology said Tuesday.

The growth was 5.1 percentage points higher than the same period last year, the ministry said in a Web statement, but it did not cite reasons for the investment rise.

Experts said China unveiled a stimulus plan for the electronics and information sector last month, which helped the long-term growth of the industry.

The ministry said that the number of new projects rose to 305 in the first two months, 60 projects more than last year.

Most of the new projects were related to electronics and photoelectric components as well as electronic equipment, the statement indicated.

Investment was mainly from mainland firms, which invested 15.4 billion yuan, a growth rate of 44.6 percent year-on-year -- the first time that domestic companies investment had accounted for more than half of the total.

Overseas and joint-venture companies pooled in an investment of 15.28 billion yuan, up 10.9 percent year-on-year.

Source: Xinhua