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China's fixed-asset investment up 5.4 pct in first three quarters

(Xinhua)    10:08, October 18, 2019

BEIJING, Oct. 18 (Xinhua) -- China continued to see steady growth in fixed-asset investment (FAI), boosted by robust high-tech investment, in the first three quarters of 2019, official data showed Friday.

FAI grew 5.4 percent year on year to reach 46.1 trillion yuan (about 6.5 trillion U.S. dollars) in the first three quarters, retreating 0.1 percentage points from the January-August period, according to the National Bureau of Statistics (NBS).

Investment by the state sector went up 7.3 percent during the period, while private-sector investment increased 4.7 percent, 0.2 percentage points lower than that in the first eight months.

"Investment has maintained steady growth, with that in high-tech industries continuing to post relatively fast growth," the NBS said in a statement.

Investment in high-tech manufacturing and services surged 12.6 percent and 13.8 percent year on year, respectively.

Investment in the primary industry went down 2.1 percent, while that in the secondary and tertiary industries rose 2 percent and 7.2 percent, respectively.

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

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

(For the latest China news, Please follow People's Daily on Twitter and Facebook)(Web editor: Liang Jun, Bianji)

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