China’s fixed-asset investment picks up speed in Q1

2017-04-17
Xinhua

BEIJING — China’s fixed-asset investment (FAI) grew 9.2 percent year on year in the first three months of 2017, quickening from the 8.9 percent growth registered in the first two months, the National Bureau of Statistics (NBS) said April 17.

FAI includes capital spent on infrastructure, property, machinery and other physical assets.

Private sector FAI, which accounts for more than 60 percent of the total FAI, grew 7.7 percent in the first quarter, accelerating from the 6.7 percent registered in the first two months, according to the NBS.

FAI by State-owned enterprises climbed 13.6 percent year on year during the period, and infrastructure investment expanded 23.5 percent in the first quarter.

In the agricultural sector, fixed-asset investment jumped the fastest, up 19.8 percent year on year. It was followed by 12.2 percent growth for the service sector and 4.2 percent growth for the industrial sector.

Other indicators released by the NBS on April 17, including gross domestic product and industrial production, pointed to stabilization in the world’s second-largest economy.