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China’s fixed-asset investment up 6.1%

Updated: May 15,2019 10:31 AM     Xinhua

BEIJING — China continued to see steady growth in fixed-asset investment (FAI), boosted by robust high-tech investment in the first four months of 2019, official data showed on May 15.

FAI grew 6.1 percent year-on-year during the January-April period, retreating 0.2 percentage points from the first quarter, according to the National Bureau of Statistics (NBS).

The pace quickened from the 5.9-percent annual growth last year, the NBS data showed.

The FAI includes capital spent on infrastructure, property, machinery and other physical assets.

During the January-April period, the FAI amounted to 15.6 trillion yuan (about $2.3 trillion).

Investment by the state sector went up 7.8 percent during the period, while private-sector investment increased 5.5 percent, 0.9 percentage points lower than that in the first three months.

“Investment has maintained steady growth, with that in high-tech industries continuing to post relatively fast growth,” the NBS said in a statement.

Investment in high-tech manufacturing and services surged 11.4 percent and 15.5 percent year-on-year, respectively.

Investment in the primary industry edged down 0.1 percent, while that in secondary and tertiary industries rose 2.8 percent and 7.9 percent, respectively.

The figures were among a series of indicators released by the NBS, including industrial production and retail sales, which show that the economy remains on a stabilizing track.