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China's road, waterway investment falls in May

BEIJING, June 24 (Xinhua) -- China's fixed-asset investment (FAI) in roads and waterways fell in May.

FAI in roads and waterways dropped 4.6 percent year on year to 191 billion yuan (about 30 billion U.S. dollars) last month, according to the National Development and Reform Commission (NDRC).

Spending in the first five months rose 4.4 percent year on year to 731 billion yuan.

Total FAI in infrastructure in the January-May period increased 9.4 percent from a year earlier, down 3 percentage points from the January-April level, according to the National Bureau of Statistics.

The slowdown came after years of high investment growth brought substantial development to infrastructure construction. The growth was dragged down by government efforts to clean up irregular projects and defuse financial risks.

Souce: Xin Hua