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Economy on stable growth trajectory

By Wang Yanfei | | Updated: 2017-06-14 13:26

Economy on stable growth trajectory

Fixed-asset investment (FAI) in the first five months grew at 8.6 percent year-on-year, which is 0.3 percentage points slower than the previous four months.

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

In the primary industry, fixed-asset investment jumped the fastest, up 16.9 percent year on year. Fixed-asset investment in the service industry jumped 11.6 percent and that in the secondary industry grew 3.6 percent.

Infrastructure investment expanded 20.9 percent in the first five months, slowing down from the growth rate in the first four months.

By regions, investment in western China expanded at the fastest rate, while that in the northeast continued to decline.

China is trying to shift its economy toward a growth model driven by consumer spending, innovation and services, while weaning it off over-reliance on exports and investment.

Other indicators released by the NBS, including industrial production and retail sales, pointed to stabilization in China's economy.

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