Official data highlights the pivotal role played by fixed capital investment in the growth of China’s economy since 1949.
Average annual growth in national fixed capital investment has been 15.6% for the 70 years since the founding of the People’s Republic of China, according to a report from the state-owned Economic Information Daily.
In 1978 China’s national capital formation rate was 38.9%, a figure which rose to a post-reform peak of 48% in 2011 before easing back to 44.9% in 2018.
During the period from 2013 to 2018 average annual growth in China’s hi-tech sector investment was 16.9%, 6.2 percentage points ahead of all social investment.
Average annual growth in hi-tech manufacturing was 15% for the period – 5.4 percentage points ahead of all manufacturing sector investment, while average annual growth in hi-tech services sector investment was 20.3%, 8.2 percentage points ahead of all services sector investment.