China's fixed-asset investment rose 5.8% year on year in the first 10 months of this year, with investment in high-tech industries continuing to log rapid growth, data from the National Bureau of Statistics (NBS) showed. This was reported by The Xinhua News Agency.
Fixed-asset investment from January to October totaled ¥47.15 trln (about $6.7 trln), the bureau said in a statement.
The growth slowed from a 5.9-percent increase posted in the first three quarters of the year. In October, the investment picked up 0.12% from September.
During the Jan.-Oct. period, fixed-asset investment from the private sector increased 1.6% from a year earlier to ¥25.84 trln.
Investment in infrastructure and manufacturing gained 8.7% and 9.7% year on year during the period, respectively. Investment in property development went down 8.8% year on year in the period.
China's high-tech industries continued to see a stellar expansion of fixed-asset investment in the first 10 months, with that in the high-tech manufacturing and services sectors jumping by 23.6% and 14% year on year, respectively, NBS data showed.
Specifically, investment in the sub-sectors of electronic and communication equipment manufacturing and research and design services soared 28.7% and 22.5%, respectively.
China has rolled out a series of pro-investment measures this year. For instance, local governments nationwide have expedited the use of special-purpose bonds to catalyze investment.
Over ¥3.54 trln worth of new special-purpose local government bonds were issued in the first three quarters of this year, data from the Ministry of Finance showed.
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