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China’s fixed-asset investment up 5.3% in first 8 months

Updated: Sep 14,2018 1:27 PM     Xinhua

BEIJING — China’s fixed-asset investment (FAI) rose 5.3 percent in the first eight months of the year, slightly down from 5.5 percent for January-July, data showed on Sept 14.

On a monthly basis, FAI edged up 0.44 percent from July, according to data from the National Bureau of Statistics (NBS).

FAI growth has been declining since the beginning of this year.

Despite the slower FAI growth, NBS spokesperson Mao Shengyong said the structure of investment continued to improve.

In breakdown, investment in infrastructure increased 4.2 percent in the first eight months, down from 5.7 percent for January-July. FAI in high-tech manufacturing and equipment manufacturing jumped 12.9 percent and 9.2 percent respectively during the period.

Private investment rose at a faster pace than the overall growth. FAI by the private sector expanded 8.7 percent year on year in the first eight months, compared with 8.8 percent in the first seven months.

Property development investment climbed 10.1 percent year-on-year for January-August, slightly down from 10.2 percent during the first seven months.

Housing sales measured by floor area grew 4 percent during the period, with the growth down from 4.2 percent for January-July.

Mao expected the FAI growth to stabilize in the coming months as the government’s policies to boost infrastructure investment will gradually come through, while property investment and manufacturing investment maintain stable increases.

He said the government will increase investment in sectors of infrastructure and public services in the country’s comparatively less-developed central and western regions.

Property development investment climbed 10.1 percent year-on-year for January-August, down from 10.2 percent during the first seven months but up from an increase of 7.9 percent during the same period in 2017.

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