Decline of China's fixed assets investment further narrows in H1 General 2020-07-16 11:35:36

China's investment in fixed assets (excluding rural households) fell 3.1% year on year to 28,160.3 billion yuan ($4,024.11 billion) during January-June, showed data from the National Bureau of Statistics, narrowing from a 6.3% decline over the first five months.

It remarked the fourth straight session of revision, since a dramatic decline of 24.5% in January-February, suggesting fading fallout from COVID-19 outbreak.

The private investment reached 157,867 billion yuan, falling at slower rate of 7.3% year on year compared with 9.6% decline in January-May, data showed. China's total fixed assets investment last month grew 5.91% from May.

The investment in primary industries – mainly the agricultural sector – totaled 629.6 billion yuan during January-June, up 3.8% year on year, 3.8 percentage points higher than that in the first five months; that of secondary industries – mainly the industrial sector – was 8,501.1 billion yuan, falling 8.3%, narrowing by 3.5 percentage points.

The tertiary industries – mainly the service sector – saw investment drop 1% year on year to 18,829.6 billion yuan, narrowing from 3.9% decline in the first five months.

In secondary industries, investment in industrial sector decreased 7.4% year on year, compared with a 10.9% fall in the first five months.

Of that, investment in mining industries went down by 3.9%, while that in January-May was down faster by 8.7%; that of manufacture decreased 11.7%, growing 3.1 percentage points; yet that of production and supply of electric power, heat power, gas and water, increased 18.2%,climbing 4.4 percentage points from the first five months.

In tertiary industries, investment in infrastructure (excluding electric power, heat, gas and water) decreased 2.7% year on year, narrowing 3.6 percentage points from January-May.

Specifically, investment in management of water conservancy increased 0.4%, compared with a decline of 2.0% in January-May; that of management of public facilities decreased 6.2%, narrowing by 2.1 percentage points; that of transport via road and railway increased 0.8% and 2.6% respectively, improved compared with 2.9% and 8.8% declines separately over January-May.

Investment in China's most developed eastern region fell 0.7% year on year, 3.3 percentage points less than in the first five months; that of central region declined 11.9%, narrowing 3.2 percentage points; and that of western and northeastern regions increased 1.1% and 0.4% year on year, compared with 0.9% and 2.5% declines in January-May.

(Writing by Emma Yang  Editing by Jessie Jia)
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