Private investment grows in many provinces driven by focus on real economy

Updated 2017-08-01 10:00:28 Global Times

Some 20 provinces recorded an accelerated recovery in private investment in the first half of 2017, driven by increased investment in manufacturing, domestic financial site reported on Monday.

The growth rates in Southwest China's Chongqing Municipality, East China's Fujian Province and North China's Tianjin Municipality were above the nationwide average of 8.6 percent, the report noted. More investment has been flowing into sectors such as manufacturing, housing and high-tech industries.

Northwest China's Xinjiang Uyghur Autonomous Region recorded the fastest growth among the provinces. In the first six months, Xinjiang saw total investment surge about 24.6 percent year-on-year, to 453 billion yuan ( billion), the highest since 2015.

Western and central regions saw investment growth reach 10.7 percent and 10.1 percent during the same period, respectively, which outpaced the eastern region.

However, the northeastern region still lagged behind, with total investment declining about 9.5 percent on a yearly basis.

Manufacturing and real estate were the most favored sectors by private investors, noted.

For example, in East China's Shandong Province, 50 percent of the funds went into manufacturing and 20 percent went into property projects, the report noted.

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