China's fixed-asset investment up 25.6% in Q1 at USD 1.47 trln

minutes 2021/04/16 10:45:55

Apr 16, 2021 (China Knowledge) - Official data from China’s National Bureau of Statistics (NBS) shows that China’s fixed-asset investment (FAI) recorded a strong rebound in the first quarter of 2021, rising 25.6% YoY to RMB 9.6 trln (USD 1.72 trln).

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

The double-digit growth was largely driven by a low base of comparison early last year when economic activities in China were paralyzed by COVID-19. FAI growth came in at 6% compared with the 2019 level.

Investment by the state sector went up 25.3% during the January-March period, while private-sector investment rose 26%.

Meanwhile, on a month-on-month basis, FAI rose 1.51% in March.

Investment in the primary industry went up 45.9% YoY in the first three months, while investment in the secondary and tertiary industry rose 27.8% and 24.1%, respectively.

For investment in high-tech manufacturing and services it jumped 41.6% and 28.6% YoY, respectively.

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