China’s fixed-asset investment grows 3.6% YoY in 7m

China’s fixed-asset investment expanded 3.6 per cent year-on-year to reach 28.76 trillion yuan (about $4.03 trillion) in the first seven months of 2024, according to the National Bureau of Statistics (NBS) on Thursday.

Investment in the private sector totaled 14.71 trillion yuan during the period, maintaining the same level as the previous year. On a monthly basis, fixed-asset investment declined by 0.17 per cent in July.

Investment in high-tech industries expanded by 10.4 per cent, with high-tech manufacturing and high-tech services growing by 9.7 per cent and 11.9 per cent, respectively.

Within high-tech manufacturing, investment in aerospace vehicle and equipment manufacturing and computer and office device manufacturing surged by 37.7 per cent and 10.8 per cent, respectively.

In high-tech services, professional technical services and e-commerce services grew by 25.4 per cent and 17.9 per cent, respectively.

Attribution: National Bureau of Statistics of China (NBS) report

Subediting: M. S. Salama