BUSINESS China's fixed-asset investment up 0.8 pct in first 3 quarters

BUSINESS

China's fixed-asset investment up 0.8 pct in first 3 quarters

Xinhua

12:00, October 19, 2020

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File photo: VCG

BEIJING, Oct. 19 (Xinhua) -- China's fixed-asset investment went up 0.8 percent year on year in the first three quarters of 2020, data from the National Bureau of Statistics showed Monday.

Total fixed-asset investment came in at 43.65 trillion yuan (about 6.5 trillion U.S. dollars) during the period.

In breakdown, the investment in the primary industry rose 14.5 percent from the same period last year, while that in the tertiary industry grew 2.3 percent.

Private investment decreased 1.5 percent during the period, narrowing by 1.3 percentage points from the first eight months.

On a month-on-month basis, the country's fixed-asset investment went up 3.37 percent in September.

Data from the bureau also showed China's gross domestic product expanded 4.9 percent year on year in the third quarter, faster than the 3.2-percent growth seen in the second quarter.

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