BUSINESS China's fixed-asset investment up 5.2 pct in first 10 months

BUSINESS

China's fixed-asset investment up 5.2 pct in first 10 months

Xinhua

10:59, November 14, 2019

BEIJING, Nov. 14 (Xinhua) -- China's fixed-asset investment grew 5.2 percent year on year in the first 10 months, the National Bureau of Statistics (NBS) said Thursday.

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Photo: VCG

In the first 10 months, total investment amounted to 51.09 trillion yuan (about 7.3 trillion U.S. dollars).

The private sector's investment increased 4.4 percent to 29.15 trillion yuan, 0.3 percentage points slower than that for the first nine months.

Investment in high-tech manufacturing and high-tech services rose 14.5 percent and 13.7 percent year on year, respectively.

From January to October, investment in the primary industry of the economy went down 2.4 percent year on year, that in the secondary industry rose 2.3 percent, and investment in the tertiary industry rose 6.8 percent.

China's investment in property development grew 10.3 percent year on year in the period, down from 10.5 percent for the first nine months.

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

The figures are among a series of indicators released by the NBS, including industrial production, retail sales and employment, which show that the economy remained on a stable track.

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