September 15, 2017 / 2:20 AM / 9 months ago

UPDATE 1-China state planner approved 10.76 bln yuan of fixed-asset investment projects in August

BEIJING, Sept 15 (Reuters) - China’s National Development and Reform Commission, the country’s top economic planner, said on Friday that it approved 10.76 billion yuan ($1.64 billion) of fixed-asset investment projects in August.

That was a sharp drop from the 165.5 billion yuan of fixed-asset investment project approvals in July, which was the highest since December.

China approved 463.8 billion yuan of fixed-asset investment projects in the first half of 2017.

The monthly data on approved fixed-asset investment, which mainly covers large infrastructure projects, is volatile and only a part of the country’s overall fixed-asset investment.

China’s fixed-asset investment grew 7.8 percent in the first eight months from a year earlier - the weakest pace in nearly 18 years, data issued by the National Bureau of Statistics showed. (Reporting by Yawen Chen; Writing by Ryan Woo; Editing by Kim Coghill and Amrutha Gayathri)

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