China's fixed-asset investment expands 6.2 pct in January-May

Builders work at the construction site of Duohua super major bridge in Longli County, southwest China's Guizhou Province, June 14, 2022. (Xinhua/Yang Wenbin)

BEIJING, June 15 (Xinhua) -- China's fixed-asset investment saw steady growth in the first five months of this year, official data showed Wednesday.

Fixed-asset investment jumped 6.2 percent from a year earlier to 20.6 trillion yuan (about 3.05 trillion U.S. dollars) in the first five months, the National Bureau of Statistics (NBS) said in a statement.

The growth slowed from a 6.8-percent increase registered in the first four months. In May, fixed-asset investment picked up 0.72 percent from a month earlier.

From January to May, fixed-asset investment from the private sector increased 4.1 percent from a year earlier to 11.71 trillion yuan.

Despite COVID-19 resurgences, investment in infrastructure and manufacturing gained 6.7 percent and 10.6 percent year on year, respectively.

Investment into the high-tech manufacturing and high-tech services sectors sustained growth momentum, jumping 24.9 percent and 10.8 percent year on year, NBS data showed.

The healthcare and education sectors also saw investment rise 27.8 percent and 9 percent during the period.

NBS spokesperson Fu Linghui cautioned that while the negative impact of COVID-19 continues to wane, challenges still lie ahead for China's economic recovery as the international environment remains complex.

Investment has traditionally been a key engine for growth. In the face of COVID-19 flare-ups and increasing downward pressure on the economy, China has underlined the role of effective investment with a package of measures unveiled last month.

"China's economic performance is expected to further improve in June, as the pro-growth measures are taking effect," Fu said.