China's fixed asset investment slows

China's annual growth in fixed asset investment in urban areas slowed to 26.6% in the first 11 months of 2006, Reuters reported citing the official China Securities Journal. Ma Kai, head of the National Development and Reform Commission and China's top economic planner, said there is still a very strong possibility of a rebound in fixed asset investment. During a weekend speech, Ma predicted that investment in projects under construction in 2006 would jump more than US$640 billion to over US$4.09 trillion (RMB32 trillion). The growth rate of 26.6% represents a small slowdown from the 26.8% recorded from January to October and a more significant gap from the 31.3% recorded in the first half.