China's fixed-asset investment up 3.4 pct in first seven months

BEIJING, Aug. 15 (Xinhua) -- China's fixed-asset investment went up 3.4 percent year on year in the first seven months of 2023, data from the National Bureau of Statistics showed Tuesday.

The total investment stood at 28.59 trillion yuan (about 3.98 trillion U.S. dollars) in the period, the bureau said in a statement.

Investment in infrastructure construction increased 6.8 percent from the same period last year, and manufacturing investment rose 5.7 percent. Capital flowing into property development fell 8.5 percent, and investment from the private sector inched down 0.5 percent.

High-tech industries saw strong growth, with investment up 11.5 percent year on year. Specifically, investment into high-tech manufacturing and high-tech services sectors expanded 11.5 percent and 11.6 percent, respectively.