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.

People's Daily online

17:09, September 15, 2021

Aerial photo taken on March 12, 2021 shows the construction site of Hangzhou West Railway Station in Hangzhou, capital of east China's Zhejiang Province. (Xinhua/Huang Zongzhi)

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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