Business / China Data

China's fixed-asset investment growth continues to slow

(Xinhua) Updated: 2016-08-12 11:09

China's fixed-asset investment growth continues to slow

The Shanghai-Nantong Yangtze Bridge under construction on the Nantong side of the river in Jiangsu province. [XU CONGJUN/FOR CHINA DAILY]

BEIJING - China's fixed-asset investment grew 8.1 percent year on year in the first seven months of the year, down from the 9-percent rise in the first six months, official data showed on Friday.

Private sector fixed-asset investment climbed 2.1 percent during the January-July period, slowing further from an already weak 2.8-percent rise in the first half, according to data from the National Bureau of Statistics (NBS).

NBS spokesperson Sheng Laiyun attributed the continued weakness in private sector investment, which accounts for 61.4 percent of total fixed-asset investment, to the slowdown in export manufacturing, entrance barriers for private companies in some sectors, limited access to loans and widespread flooding in some areas.

Investment growth by state-owned enterprises also slowed to 21.8 percent in the first seven months, from 23.5 percent in the first half.

Infrastructure investment jumped 19.6 percent during the period, decelerating from 20.9 percent in the first half.

Fixed-asset investment includes capital spent on infrastructure, property, machinery and other physical assets.

The investment figures were among a string of data released by the NBS, including statistics on retail sales and industrial production, which both reported slower year-on-year growth in July.

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