China’s Jan. to April Fixed Asset Investment Grew 8.9% YoY

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The latest raft of official data indicates that year-on-year growth in fixed asset investment eased to 8.9% for the period from January to April of this year to 14,432.7 billion yuan.

The four month fixed asset investment growth figure marks a decline of 0.3 percentage points compared to the first quarter.

Investment in primary industry saw the biggest increase, with a year-on-year rise of 19.1% to reach 393.1 billion yuan, while investment in tertiary industry grew by 12.1% to hit 8580.1 billion yuan.

Investment in secondary industry posted growth of only 3.5% to reach 5459.6 billion yuan.

With respect to secondary industry, industrial investment grew 3.8% year-on-year to reach 5379.1 billion yuan. Investment in coal mines fell 9.5% to hit 183.4 billion yuan, while manufacturing investment rose 4.9% to reach 4,538.9 billion yuan.

With respect to tertiary industry, infrastructure investment (excluding power, heat, gas and water utilities) surged 23.3% year-on-year to 2,978.9 billion yuan, while hydraulic sector management investment grew 16.1%, road investment grew 24.6% and railway investment rose 3.5%.

In terms of geographic regions eastern China saw year-on-year growth in fixed asset investment of 9.1% to 6,745.2 billion yuan, central China saw growth of 10.3% to 3,839.9 billion yuan, and western China posted growth of 11% 3,426.4 billion yuan.

China’s north-east was the exception to nation-wide growth in fixed asset investment with a drop of 18.7% to 320.7 billion yuan.

Investment by domestic enterprises grew 9.6% to reach 13,706.5 billion yuan, while investment by Hong Kong, Macanaese or Taiwanese enterprises fell 4.4% to 364 billion yuan, and foreign investment edged lower 0.3% to 327,6 billion yuan.

While investment in central government projects fell by 9.2% to 499.4 billion yuan, local government projects leaped by 9.6% to 13,933.3 billion yuan.

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