BUSINESS China's fixed-asset investment growth continues to pick up

BUSINESS

China's fixed-asset investment growth continues to pick up

CGTN

04:58, April 18, 2019

A State Grid employee works on an ultra-high-voltage transmission construction in Huainan, Anhui province. (Photo: China Daily)

China continued to see faster growth in fixed-asset investment (FAI) thanks to robust high-tech investment in the first quarter of 2019, official data showed Wednesday.

FAI grew 6.3 percent year-on-year in Q1, 0.2 percentage points faster than the first two months of 2019 and 0.4 percentage points faster than the whole year of 2018, according to the National Bureau of Statistics (NBS).

Compared with the same period of last year, the growth was down 1.2 percentage points.

In March, FAI rose 0.45 percent from the previous month.

The FAI in Q1 amounted to 10.187 trillion yuan ($1.5 trillion), according to the NBS.

"Investment has steadily recovered, with that in high-tech industries recording relatively fast growth," the NBS said in a statement.

In Q1, investment in high-tech manufacturing and services posted vigorous gains of 11.4 percent and 19.3 percent year-on-year, respectively.

Private investment, accounting for around 60 percent of the total FAI, posted a 6.4-percent year-on-year increase, also outpacing the overall growth, the NBS data showed.

Investment in the primary and secondary industries rose 3 percent and 4.2 percent, respectively, while that in the tertiary industry went up 7.5 percent.

Wednesday's data also showed steady expansion in the broader economy, as the country's GDP grew 6.4 percent year-on-year in Q1, level with that of Q4 2018 and within the government annual target of 6-6.5 percent.

Related Stories

Terms of Service & Privacy Policy

We have updated our privacy policy to comply with the latest laws and regulations. The updated policy explains the mechanism of how we collect and treat your personal data. You can learn more about the rights you have by reading our terms of service. Please read them carefully. By clicking AGREE, you indicate that you have read and agreed to our privacy policies

Agree and continue