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China's fixed-asset investment growth continues to slow

2016-08-13 12:38:22

China's fixed-asset investment growth continues to slow

The Shanghai-Nantong Yangtze Bridge under construction on the Nantong side of the river in Jiangsuprovince. [XU CONGJUN/FOR CHINA DAILY]

BEIJING - China's fixed-asset investment grew 8.1 percent year on year in the first sevenmonths of the yeardown from the 9-percent rise in the first six monthsofficial data showedon Friday.

Private sector fixed-asset investment climbed 2.1 percent during the January-July period,slowing further from an already weak 2.8-percent rise in the first halfaccording to data fromthe National Bureau of Statistics (NBS).

NBS spokesperson Sheng Laiyun attributed the continued weakness in private sectorinvestmentwhich accounts for 61.4 percent of total fixed-asset investmentto the slowdownin export manufacturingentrance barriers for private companies in some sectorslimitedaccess to loans and widespread flooding in some areas.

Investment growth by state-owned enterprises also slowed to 21.8 percent in the first sevenmonthsfrom 23.5 percent in the first half.

Infrastructure investment jumped 19.6 percent during the perioddecelerating from 20.9percent in the first half.

Fixed-asset investment includes capital spent on infrastructurepropertymachinery and otherphysical assets.

The investment figures were among a string of data released by the NBSincluding statisticson retail sales and industrial productionwhich both reported slower year-on-year growth inJuly.

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