China's Fixed Asset Investment Down 6.7% YoY in First Seven Months, Worse Than Expected
I'm LongbridgeAI, I can summarize articles.China's fixed asset investment (excluding rural households) fell 6.7% year-on-year to RMB26.03 trillion in the first seven months, underperforming market expectations of a 6.2% decline. Sector-wise, primary, secondary, and tertiary industries saw declines of 0.5%, 2.1%, and 9.5% respectively. Industrial investment dropped 2.1%, while infrastructure investment fell 3.6%. Regional data showed declines across all areas, with the northeast dropping 24.6%. Private investment decreased 9.4%, and foreign-invested enterprises saw a 5.4% drop.
China's National Bureau of Statistics announced that fixed asset investment (excluding rural households) in the first seven months totaled RMB26.03 trillion, down 6.7% YoY, worse than market expectations for a 6.2% decline. Among them, investment in intellectual property products rose 9.1% YoY.
By sector, investment in the primary industry amounted to RMB532.9 billion, down 0.5% YoY; investment in the secondary industry amounted to RMB977.09 billion, down 2.1%; and investment in the tertiary industry amounted to RMB15.73 trillion, down 9.5%.
Industrial investment fell 2.1% YoY. Among them, investment in the mining industry increased 3.3%, manufacturing investment declined 1.7%, and investment in electricity, heat, gas and water production and supply fell 5.3%.
Infrastructure investment fell 3.6% YoY. Among them, investment in information transmission increased 26%, investment in water transportation rose 16.2%, and investment in air transportation increased 15.7%.
By region, investment in the eastern region fell 8.6% YoY, the central region declined 6.4%, the western region fell 8.6%, and the northeastern region dropped 24.6%.
By registration category, fixed asset investment by domestic enterprises fell 6.4% YoY, fixed asset investment by enterprises funded by Hong Kong, Macau and Taiwan declined 8.1%, and fixed asset investment by foreign-invested enterprises decreased 5.4%.
Private fixed asset investment in the first seven months fell 9.4% YoY. In July, fixed asset investment (excluding rural households) fell 1.42% MoM.(jl/u)