National Bureau of Statistics: my country’s fixed asset investment continues to grow and manufacturing investment growth accelerates
Xinhua News Agency, Beijing, October 2 – The National Bureau of Statistics recently released data showing that in the first eight months of this year, the national fixed asset investment (excluding rural households) reached 32,704.2 billion yuan, an increase of 3.2% compared to the previous year. The growth rate slightly decreased by 0.2 percentage points from January to July. Notably, manufacturing investment saw a significant increase with a year-on-year growth rate of 5.9%, surpassing the growth rate of overall fixed asset investment by 2.7 percentage points.
According to Fu Linghui, spokesperson of the National Bureau of Statistics, the manufacturing industry in China is currently undergoing structural adjustments and optimization. While some industries are facing challenges in adjusting production capacity and upgrading product structures, emerging industries are growing well and exhibiting strong investment growth momentum. The manufacturing industry is providing evident support to the overall investment growth. In the first eight months, manufacturing investment increased by 5.9% compared to the previous year, surpassing the growth rate from January to July by 0.2 percentage points. Investment in equipment manufacturing specifically increased by 14.3%. This growth can be attributed to the development of new energy vehicles, as investment in the automobile manufacturing industry increased by 19.1% during the same period.
The statistics also suggest that investment in high-tech industries is maintaining a robust pace. High-tech industries witnessed a year-on-year growth rate of 11.3% in the first eight months, surpassing the growth rate of overall fixed asset investment by 8.1 percentage points. High-tech manufacturing saw a 11.2% increase compared to the previous year, outpacing investment in traditional manufacturing by 5.3 percentage points. Similarly, investment in high-tech services grew by 11.5% year-on-year, outperforming investment in the service industry by 10.6 percentage points.
Investment in areas related to people’s livelihood is also on the rise. The production and supply industry of electricity, heat, gas, and water experienced a significant increase of 26.5% in investment during the first eight months. Additionally, agricultural investment grew by 10.4% during the same period.
“Recently, relevant departments have introduced a series of measures to stabilize and expand private investment, which will play a positive role in stimulating private investment vitality,” said Fu Linghui. Looking ahead, with the effective implementation of government investment and policy incentives, as well as the gradual effectiveness of stable real estate market policies, it is expected that the endogenous motivation for investment will increase. This, in turn, will optimize the investment structure, contributing to high-quality economic development.
These positive trends in fixed asset investment and the growth of the manufacturing industry exemplify the resilience and potential of China’s economy. As the country continues to prioritize targeted investments and implement supportive policies, it is well-positioned to navigate the challenges posed by the global economic landscape and achieve sustainable growth.