China's innovation-related investment holds steady despite broader fixed-asset decline

BEIJING, Oct. 19 (Xinhua) -- China's investment in innovation-driven sectors held up well in the first three quarters of 2026, even as overall fixed-asset investment continued to contract, official data showed Monday.

Investment in intellectual property products rose 9.3 percent year on year in the Jan.-Sept. period, while investment in high-tech industries grew 4.9 percent, the National Bureau of Statistics said in a statement.

Notably, several sectors posted particularly strong gains. Investment in information services surged 20.2 percent from a year ago, aerospace equipment manufacturing climbed 12.5 percent, and electronic and communications equipment manufacturing rose 7.6 percent.

The resilience of these sectors stands in contrast to the broader investment picture. Total fixed-asset investment fell 7.2 percent year on year to 33.41 trillion yuan (4.97 trillion U.S. dollars) in the first three quarters, dragged down in part by a slump in real estate. Excluding the real estate development investment, total fixed-asset investment declined 4.2 percent.

In breakdown, infrastructure investment fell 4.2 percent year on year in the first nine months, manufacturing investment dropped 2.1 percent, and real estate development investment declined 20.6 percent. Private sector investment contracted 10.4 percent.