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China's Fixed-asset Investment Growth Eases Further

2018-05-16 11:47:50.0

China's fixed-asset investment (FAI) rose 7 percent in the first four months of the year, down from 7.5 percent for January-March, data showed Tuesday.

This marked growth deceleration for two consecutive months. The pace was down from 8.9 percent registered during the same period of last year.

On a monthly basis, the FAI edged up 0.52 percent in April, according to data from the National Bureau of Statistics (NBS).

NBS spokesperson Liu Aihua said although FAI growth eased, the structure of investment continued to optimize, with more support for economic transformation and improving supplies.

Infrastructure investment increased 12.4 percent year on year for January-April, slightly down from 13 percent in the first three months.

Liu expects infrastructure investment to maintain stable and sustainable growth in the long term, saying China remains the world's largest developing country and there has been huge potential in expanding infrastructure investment.

However, as the government moves to regulate the public-private partnerships (PPP) program and financing activities of local governments amid efforts to defuse financial risks, investment has been affected in the short term, Liu said.

FAI by the private sector gained 8.4 percent during the period, with the pace of growth also easing from 8.9 percent in the first three months.

Property development investment expanded 10.3 percent year on year for January-April, slightly down from 10.4 percent during the first quarter.

Housing sales measured by floor area grew 1.3 percent during the period, with the growth down from 3.6 percent for January-March.

Calling the pullback in property development investment and housing sales growth normal, Liu said as the country continues to implement measures to curb home buying in order to contain speculation while increasing supplies, the property market will maintain stable development. (Source: Xinhua)

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