China's fixed asset investment climbs in first two months

Business | 14 Mar 2019 5:25 pm

China's fixed-asset investment grew by 6.1 percent year-on-year in the first two months of 2019, or 0.2 percentage points higher than that recorded in 2018, the National Bureau of Statistics, said today, Xinhua reports.

NBS spokesperson Mao Shengyong said domestic demand was steady in the first two months, given stable fixed asset investment and consumption expansion.

The growth has continued on an upward trend since last September.

Retail sales of consumer goods grew by 8.2 percent year on year in the first two months, flat with that in December, data from the NBS showed.

Private investment grew, rising by 7.5 percent year-on-year to about 2.7 trillion yuan, the NBS data showed.

Investment in the tertiary industry expanded by 6.5 percent in the past two months, picking up the pace from the 5.5-percent increase in 2018.

Meanwhile, the investment in high-tech industries and industrial technology improvement jumped by 8.6 percent and 19.5 percent on-year, both faster than the overall FAI growth.

Data also showed that investment in infrastructure went up by 4.3 percent on-year, quickening from the 3.8-percent growth in 2018.

The investment in the primary industry and secondary industry grew 3.7 percent and 5.5 percent, respectively.

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