China NDRC approves 16 fixed-asset investment projects worth $6.96 bln in Q1

China’s state planner said on Monday that it approved 16 fixed-asset investment projects worth a total of 45.4 billion yuan ($6.96 billion) in the first quarter of this year.

The projects are mainly in the transportation, high technology and energy sectors, Meng Wei, a spokesperson for the National Development and Reform Commission (NDRC), told reporters at a regular briefing.

The NDRC also said that China’s power consumption surged 21.2% in the first quarter from a year earlier.