BUSINESS China's fixed-asset investment up 8.9 pct in Jan.-Aug.

BUSINESS

China's fixed-asset investment up 8.9 pct in Jan.-Aug.

Xinhua

10:08, September 15, 2021

Photo taken on April 16, 2021 shows a SkyShuttle running on rails in Bishan District, southwest China's Chongqing Municipality. (Xinhua/Wang Quanchao)

BEIJING, Sept. 15 (Xinhua) -- China's fixed-asset investment (FAI) went up 8.9 percent year on year in the first eight months of this year, data from the National Bureau of Statistics (NBS) showed Wednesday.

During the January-August period, the FAI amounted to over 34.69 trillion yuan (about 5.38 trillion U.S. dollars), according to the NBS.

Compared with the 2019 level, the FAI growth came in at 8.2 percent for the period. The average January-August growth rate in the recent two years stood at 4 percent.

Investment by the private sector rose 11.5 percent year on year to 19.86 trillion yuan in the first eight months, NBS data showed.

On a month-on-month basis, FAI gained 0.16 percent in August.

Investment in the primary industry increased 18.1 percent year on year in the first eight months, while investment in the secondary industry rose 12.9 percent and that in the tertiary industry climbed 6.8 percent.

Specifically, investment in manufacturing and infrastructure gained 15.7 percent and 2.9 percent year on year, respectively, NBS data showed.

The FAI includes capital spent on infrastructure, property, machinery and other physical assets.

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