Urban fixed asset investment rise 25%

The National Bureau of Statistics said urban fixed asset investment grew to RMB422.2bn (US$51bn), up 24.5% from a year ago in the first two months of 2005, prompting concerns that China may be on an investment binge again. The increase was fueled by investments in coal mining, oil refining, and utilities, which grew by 148%, 46% and 59% respectively.