Urban fixed-asset investment jumped in June, up 33.5% from a year ago, according to the National Bureau of Statistics. Fixed-asset investment shot past the 29.8% growth expectations of a Dow Jones Newswires poll and was higher than the 28.8% growth registered last June, the Wall Street Journal reported. A spokesman for the statistics bureau said Tuesday that economic growth driven by fixed-asset investment isn't sustainable. The bureau director said growth of 20%-25% would be more in line with China's economic needs. Despite government measures to slow it down with curbs on new construction projects and land restrictions, fixed-asset investment shows no sign of slowing down.
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