Beijing, August 15, 2024, The Europe Today: China’s fixed-asset investment saw a year-on-year increase of 3.6 percent, reaching approximately 28.76 trillion yuan (about 4.03 trillion U.S. dollars) in the first seven months of 2024, according to data released by the National Bureau of Statistics (NBS) on Thursday.
Investment in the private sector remained stable, totaling 14.71 trillion yuan, consistent with the same period last year. However, on a monthly basis, fixed-asset investment in China experienced a slight decline of 0.17 percent in July.
Among the three major industries, the secondary industry recorded the highest year-on-year growth, with an impressive 12.5 percent increase, bringing the total investment in this sector to around 9.85 trillion yuan. Within the secondary industry, the mining sector saw a significant rise of 19.3 percent, while the manufacturing industry posted a 9.3 percent increase. Investment in the electricity, heat, gas, and water production and supply sector surged by 23.8 percent compared to the previous year.
Regionally, the central region of China led the growth with a 4.5 percent increase in fixed-asset investment, followed by the eastern region at 3.2 percent, the northeastern region at 2.6 percent, and the western region at 0.3 percent.
Additionally, investment by mainland-based enterprises grew by 3.4 percent, while enterprises from Hong Kong, Macao, and Taiwan saw a 5.1 percent increase in investment, according to the NBS statement.
The latest data reflects the ongoing resilience of China’s investment landscape, particularly in the secondary industries, despite the slight dip observed in July.
