KONG (MarketWatch) -- China's investment in factories, land and
other assets in urban areas surged 27% in the first 10 months of
the year, adding to concerns of a looming bubble in industrial spending
and raising pressure on the government to rein in investment.
Investment in fixed urban assets totaled 8.9 trillion yuan ($1.2
trillion) in the January to October period, the statistics bureau
reported on Friday.
The data cap a busy week of October statistics that showed surging
retail spending, robust industrial production and inflation nudging
Economists said Friday's scorching factory-investment figures raised
concerns the economy could be heading for a deflationary bust if
external demand fails to soak up the capacity due to come online
over the next few years.
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