China's Fixed Asset Investment in Urban Areas Grew 1.7% in January-March, Infrastructure Investment Up 8.9% Year-on-Year

Fixed asset investment showed steady growth in the first quarter, with infrastructure investment expanding rapidly. On April 16, data released by the National Bureau of Statistics showed that from January to March, national fixed asset investment (excluding rural households) totaled 10.27 trillion yuan, representing a 1.7% year-on-year increase. Among them, private fixed asset investment declined 2.2% year-on-year. From a month-on-month perspective, fixed asset investment (excluding rural households) in March increased by 0.52%. Looking at sectors, infrastructure investment rose 8.9% year-on-year, and manufacturing investment grew by 4.1%, while real estate development investment fell 11.2%. High-tech industry investment increased 7.4% year-on-year, with investments in computer and office equipment manufacturing, aerospace equipment manufacturing, and information services growing by 28.3%, 19.0%, and 20.9% respectively. In March, fixed asset investment (excluding rural households) rose 0.52% month-on-month. By industry, investment in the primary sector was 233.4 billion yuan, up 15.9% year-on-year; investment in the secondary sector reached 3.68 trillion yuan, up 5.8%; investment in the tertiary sector totaled 6.36 trillion yuan, down 1.0%. Industrial investment increased 5.8% year-on-year. Among them, mining investment grew by 15.0%, manufacturing investment by 4.1%, and investment in electricity, heat, gas, and water production and supply sectors rose by 9.0%. Infrastructure investment grew 8.9% year-on-year. Specifically, air transport investment surged 43.3%, water transport investment rose 34.1%, electricity and heat production and supply investment increased 9.2%, and ecological protection and environmental governance investment climbed 9.0%. By region, investment in eastern China grew 0.7% year-on-year, central China saw a 1.9% increase, western China rose 1.0%, while northeastern China recorded a 10.0% decline. By registration type, domestic enterprise fixed asset investment grew 2.1% year-on-year, Hong Kong, Macao and Taiwan-funded enterprise investment fell 5.0%, and foreign-funded enterprise investment dropped 6.3%.