China’s Fixed-Asset Investment up 8.3% in First 11 Months

Beijing, – China’s fixed-asset investment (FAI) rose 8.3% year on year to 53.85 trillion yuan (about 7.8 trillion US dollars) in the first 11 months of 2016, data showed Tuesday.

The growth remained unchanged from the January-October period, the National Bureau of Statistics (NBS) said.

Fixed-asset investment includes capital spent on infrastructure, property, machinery and other physical assets.

Infrastructure investment expanded 18.9% in the first 11 months, while FAI in high-tech industries surged 15.9% during the period, according to NBS data.

FAI by state-owned enterprises climbed 20.2% year on year during the period. Private sector FAI, which accounts for more than 60% of the total FAI, grew 3.1% in the first 11 months, accelerating from 2.9% in the first 10 months, according to China’s (Xinhua) News Agency.

Growth in property development investment fell slightly to 6.5% for the January-November period, after rapid housing price rises in major cities forced the country to impose restrictions on home purchases.

Other indicators released by the NBS included industrial production and retail sales, pointing to stabilization in the world’s second-largest economy.

Source: Qatar News Agency