Growth in Fixed Capital Investment Averages 15.6% per Annum Since PRC’s Founding
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.