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China's fixed-asset investment up 3.2% in first 8 months

Xinhua | September 15, 2023


China's fixed-asset investment went up 3.2 percent year on year in the first eight months of 2023, data from the National Bureau of Statistics showed Friday.

Total investment stood at 32.7 trillion yuan (about 4.56 trillion U.S. dollars) in the period, the bureau said in a statement.

Investment in infrastructure construction increased 6.4 percent from the same period last year, and manufacturing investment rose 5.9 percent. Capital flowing into property development fell 8.8 percent, while investment from the private sector inched down 0.7 percent.

High-tech industries saw rapid growth, with investment up 11.3 percent year on year. Specifically, investment in the high-tech manufacturing and high-tech services sectors expanded 11.2 percent and 11.5 percent, respectively.