Fixed-asset investment in cities - a key measure of spending on infrastructure projects - totalled 11.3 trillion yuan (S$2.6 trillion) for the period, the bureau said.

The figure indicated a slight slowdown in October, as urban fixed asset investments were up 27.6 per cent in the first nine months of the year. The bureau did not provide a figure for October alone.

Investment in real estate, a sector that Beijing has promised to support as part of efforts to boost economic growth amid a global downturn, rose by 24.6 per cent in the first 10 months of the year compared to 2007.

Investment in projects approved by the central government grew 28.7 per cent in the period, up from the 27.2 per cent booked in the first three quarters, the bureau said.

Investment in projects approved by the local governments increased by 27.1 per cent, slightly slower than the 27.7 perc ent seen in the first nine months.

Bank loans for fixed-asset investments were up 14.5 per cent in the first 10 months, while funds raised by the companies themselves - for instance in the form of reinvested profits - were up by 33.2 per cent.

By contrast, foreign funding earmarked for fixed-asset investment rose by just 5.8 per cent, down from 6.8 per cent in the first three quarters and reflecting the international credit contraction.

In a sign China is increasingly concerned about the impact of the global downturn on its economy, the government on Sunday announced a spending package worth four trillion yuan aimed at lifting growth.

The package is expected to result in spending on large infrastructure projects. -- AFP