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China's fixed-asset investment grows by 4.0% in first 5 months

2024-06-18 Editor : Mo Honge ECNS App Download

(ECNS)-- China's fixed-asset investment experienced a year-on-year increase of 4.0 percent from January to May, according to data released Monday by the National Bureau of Statistics of China. 

The overall growth of fixed-asset investment remained steady in May, with the structure continuously optimizing, said Liu Aihua, a spokesperson for the National Bureau of Statistics, at a press conference held by the State Council Information Office. 

From January to May, investment in the manufacturing sector grew by 9.6 percent year-on-year, outpacing the overall investment growth rate by 5.6 percentage points, contributing 57.3 percent to the total investment increase.

Investment in the purchase of equipment, tools, and instruments saw a year-on-year increase of 17.5 percent, accelerating by 0.3 percentage points compared to the period from January to April.

Investment in high-tech industries grew by 11.5 percent year-on-year, with the electronics and communications equipment manufacturing sector increasing by 10.4 percent, the aerospace and equipment manufacturing sector by 53.1 percent, the information service industry by 19.1 percent, and the transformation of scientific and technological achievements into services sector by 16.5 percent.

"Looking at the future investment prospects, China has vast space to expand effective investment. There is tremendous potential for investment in innovation and development, transformation and upgrading, green transformation, and livelihood areas, and there is also strong support for these investments," Liu said.

The steady growth and optimization in investment structure reflect China's commitment to fostering sustainable economic development, and highlight the significant role of high-tech industries and manufacturing in driving economic progress, Liu added.


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