China’s fixed-asset investment up 3.6 pct in first seven months -Xinhua

BEIJING, Aug. 15 (Xinhua) — China’s fixed-asset investment rose 3.6 percent year on year to reach about 28.76 trillion yuan (about 4.03 trillion U.S. dollars) in the first seven months of 2024, data from the National Bureau of Statistics (NBS) showed Thursday. 

The fixed-asset investment in the private sector totalled 14.71 trillion yuan during the period, on par with the same period last year, the NBS said in a statement.

On a monthly basis, China’s fixed-asset investment decreased by 0.17 percent in July.

In the first seven months, investment in the country’s secondary industry registered the highest year-on-year growth rate of 12.5 percent among all three industries, the NBS said, adding that the total value of the investment stood at about 9.85 trillion yuan.

Investment in the mining and manufacturing industries increased by 19.3 percent and 9.3 percent year on year, respectively during the period. And that in electricity, heat, gas and water production and supply industry surged by 23.8 percent from a year earlier.

Looking at the investment by region, the growth rate of investment in the central region was 4.5 percent, followed by 3.2 percent in the eastern region, 2.6 percent in the northeastern region and 0.3 percent in the western region.

Investment by mainland-based enterprises increased by 3.4 percent and that by enterprises from Hong Kong, Macao, and Taiwan grew by 5.1 percent, the NBS said.  ■