China’s fixed asset investment continues to grow
Despite the overall increase, however, fixed asset investment in the secondary industry was still below the pre-pandemic level.
China’s fixed asset investment grew by 2.6% y/y in the first eleven months of 2020. Despite the overall increase, however, fixed asset investment in the secondary industry was still below the pre-pandemic level. The primary industry, on the contrary, recorded strong growth of 18.2% y/y from January to November. China’s tertiary industry also saw an increase of 3.5% y/y in terms of fixed asset investment.
Further breakdown of the secondary industry indicator shows that fixed asset investment in the manufacturing dropped by 3.5% y/y, while investment in the mining industry declined by 9.2% y/y.
Further data and analysis on China’s economy is available on the CEIC China Economy in a Snapshot – Q4 2020 report.