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USEUROPEAFRICAASIA中文双语FrançaisHOMECHINAWORLDBUSINESSLIFESTYLECULTURETRAVELWATCHTHISSPORTSOPINIONREGIONALFORUMNEWSPAPERChina Daily PDFChina Daily E-paperMOBILEBusinessMacroCompaniesIndustriesTechnologyMotoringChina DataFinanceTop 10Home / Business / MacroChinas private investment up 6.4% in first eight months
Xinhua | Updated:2017-09-14 10:33BEIJING – Chinas private fixed-asset investment recorded a slowdown in growth in the first eight months of this year, but investment structure has improved, official data showed Thursday.In the first eight months, fixed-asset investment (FAI) by the private sector grew 6.4 percent year on year to 23.92 trillion yuan (about $3.65 trillion), the National Bureau of Statistics (NBS) said.The amount accounted for 60.7 percent of the total FAI, but the growth has slowed from 6.9 percent for the January-July period.Private investment to the primary sector rose 14.6 percent in the eight-month period, followed by an increase of 8.4 percent for the service sector and 4 percent for the secondary sector.Growth in the countrys total FAI also slowed in this period, which grew 7.8 percent year on year, down from 8.3 percent for the January-July period.FAI includes capital spent on infrastructure, property, machinery and other physical assets, but the bureaus calculation does not include FAI by farmers.Despite a growth slowdown, China has continued to see structural improvement within FAI, according to Liu Aihua, a spokesperson with the NBS.Rapid investment growth was seen in fields like high-tech, infrastructure and environmental protection, while transformation and upgrading in traditional industries has continued, she said.For the private sector, FAI for water conservation, environmental protection and public facility management jumped 26.5 percent, while that in mining dropped 14.2 percent year on year in the first eight months.The private sector contributes more than 60 percent of Chinas GDP growth and provides over 80 percent of jobs.To stimulate private investment activities, the government has taken moves like streamlining investment project approvals for private investors, encouraging them to participate in major projects and introducing mixed-ownership reform in state-owned enterprises.Related StoriesChinas trade surplus shrinks 14% in AugChinas August inflation expected to rise as food prices increaseChina releases new index on growth momentumPayments for China IP boom as service sector picks up paceChinas non-manufacturing expansion slows in AugustPhotoConcept cars grab spotlight at Frankfurt Motor Show 2017African women sell crystal earning $460 a dayApple launches $999 iPhone X in bid to regain innovation leadFrom revolution to evolution: Revisiting the past 10 years of iPhoneAlibaba holds glitzy 18th birthday party in HangzhouChongqing 24-hour restaurant earns family four housesMost Viewed in 24 HoursState Council News More efforts against money launderingGovt policy moves from the past weekTop 10Top 10 international talents favorite regions in ChinaEditors picksShanghai becomes international talents favorite cityAI computer visions big potential to shake up consumer marketChina DataTimeline of policy supports for the rental home marketQ&A With CEOServing in the name of progressBehind an advertising visionSpecial2017 Summer DavosChinas Q1 economic dataBACK TO THE TOPHOMECHINAWORLDBUSINESSLIFESTYLECULTURETRAVELWATCHTHISSPORTSOPINIONREGIONALFORUMNEWSPAPERChina Daily PDFChina Daily E-paperMOBILECopyright 1995 -var oTime = new Date();
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