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China's fixed-asset investment increases by 3.6 percent year on year
(MENAFN) On Thursday, the National Bureau of Statistics (NBS) reported that China's fixed-asset investment increased by 3.6 percent year on year, reaching approximately 28.76 trillion yuan, or about 4.03 trillion U.S. dollars, during the first seven months of 2024. This growth reflects ongoing investment activity across various sectors of the economy. However, there was a slight monthly decline in July, with fixed-asset investment decreasing by 0.17 percent compared to the previous month.
Private sector investment remained stable at 14.71 trillion yuan for the same period, consistent with the previous year’s figures. The data indicates that private investment has held steady, contributing significantly to the overall fixed-asset investment. The NBS report also highlights that the secondary industry experienced the most substantial growth, with a year-on-year increase of 12.5 percent, bringing the total investment in this sector to about 9.85 trillion yuan.
Investment in specific industries showed varied performance. The mining and manufacturing sectors saw notable increases, with investments rising by 19.3 percent and 9.3 percent year on year, respectively. Additionally, the investment in the electricity, heat, gas, and water production and supply industry surged by 23.8 percent from the previous year, reflecting a strong focus on infrastructure and utilities.
Regional investment growth varied across China. The central region led with a 4.5 percent increase, followed by the eastern region at 3.2 percent, the northeastern region at 2.6 percent, and the western region at 0.3 percent. Investment from mainland-based enterprises grew by 3.4 percent, while investment from enterprises based in Hong Kong, Macao, and Taiwan saw a higher increase of 5.1 percent. This regional and sectoral breakdown provides insight into the broader investment landscape and regional economic dynamics within China.
Private sector investment remained stable at 14.71 trillion yuan for the same period, consistent with the previous year’s figures. The data indicates that private investment has held steady, contributing significantly to the overall fixed-asset investment. The NBS report also highlights that the secondary industry experienced the most substantial growth, with a year-on-year increase of 12.5 percent, bringing the total investment in this sector to about 9.85 trillion yuan.
Investment in specific industries showed varied performance. The mining and manufacturing sectors saw notable increases, with investments rising by 19.3 percent and 9.3 percent year on year, respectively. Additionally, the investment in the electricity, heat, gas, and water production and supply industry surged by 23.8 percent from the previous year, reflecting a strong focus on infrastructure and utilities.
Regional investment growth varied across China. The central region led with a 4.5 percent increase, followed by the eastern region at 3.2 percent, the northeastern region at 2.6 percent, and the western region at 0.3 percent. Investment from mainland-based enterprises grew by 3.4 percent, while investment from enterprises based in Hong Kong, Macao, and Taiwan saw a higher increase of 5.1 percent. This regional and sectoral breakdown provides insight into the broader investment landscape and regional economic dynamics within China.
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