China's fixed-asset investment sees steady growth, better structure

Updated 2017-11-14 13:35:12 Xinhua

Growth in China's fixed-asset investment (FAI) maintained a stable growth in the first ten months of this year while investment structure continued to improve, official data showed Tuesday.

In the January-October period, FAI grew 7.3 percent year on year to 51.78 trillion yuan (about 7.8 trillion U.S. dollars), according to the the National Bureau of Statistics (NBS).

The growth was 0.2 percentage points slower from the January-September level. On a month-on-month basis, FAI in October rose 0.52 percent from that of September.

Infrastructure investment maintained a strong pace by rising 19.6 percent in the ten-month period, driven by investment in public facility management and road transport.

Despite some fluctuations in monthly figures, "investment has continued to play a role in improving supply structure," Liu Aihua, a spokesperson with the NBS, told a press conference.

FAI to high-tech manufacturing jumped 16.8 percent in the first ten months, much faster than the overall investment growth, NBS data showed.

Meanwhile, investment to high energy-consuming industries dropped 2.2 percent year on year.

The NBS calculation does not include investment made by farmers. It includes projects with planned investment of more than 5 million yuan and all property development.

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