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China's fixed-asset investment up 5.7% in first seven months

Updated: Aug 14,2019 11:20 AM    Xinhua

BEIJING — China's fixed-asset investment grew 5.7 percent year-on-year in the first seven months of 2019, 0.1 percentage points lower than the growth in the first half year, official data showed on Aug 14.

Fixed-asset investment amounted to 34.89 trillion yuan (about $4.98 trillion) in the first seven months, according to the National Bureau of Statistics.

Private-sector investment rose 5.4 percent year-on-year to 21.03 trillion yuan and the growth rate is 0.3 percentage points lower than that in the first six months.

Fixed-asset investment includes capital spent on infrastructure, property, machinery and other physical assets.

During the January-July period, investment in high-tech sectors registered fast year-on-year growth.

Investment in high-tech manufacturing surged 11.1 percent, 5.4 percentage points faster than total investment growth, while investment in high-tech services grew 11.9 percent, 6.2 percentage points faster than the average growth.

Investment in the primary sector of the economy edged down 1.2 percent, while that in the secondary sector rose 3.4 percent.

In the secondary sector, investment in manufacturing climbed 3.3 percent year-on-year in the January-July period, 0.3 percentage points higher than that in the first half-year.

Investment in the tertiary sector rose 7 percent year-on-year in the first seven months. In this sector, investment in infrastructure climbed 3.8 percent year-on-year during the January-July period.

During the period, investment in property development grew 10.6 percent year-on-year, down from 10.9 percent registered in January-June. The total property investment during the period totaled 7.28 trillion yuan.

Commercial housing sales measured by floor area came in at 887.83 million square meters in the first seven months, down 1.3 percent year-on-year, while sales reached 8.32 trillion yuan, up 6.2 percent year-on-year.