THE country’s top economic planning agency said Friday that it had approved fixed-asset investments totaling 2 trillion yuan (US$310 billion) in the first 11 months of the year, in a bid to put a floor under the slowing economy.

    That included investment projects worth 101.2 billion yuan in November alone, Shi Zihai, National Development and Reform Commission (NDRC) spokesman, told a news conference.

    “We will speed up construction of major projects,” Shi said, adding that the government will take steps to resolve problems facing investment projects.

    The government has in recent months rolled out a raft of steps to support the slowing economy, including repeated interest rate cuts and increased spending on infrastructure projects.

    Construction of some major investment projects has been delayed, China’s top auditor said Thursday, partly due to slow loan distribution and poor initial planning.

    Shi said the economy was on track to grow around 7 percent this year — in line with the government’s target. (SD-Agencies)