China Investment July 2019


China: Investment growth eases in January–July

August 14, 2019

Urban fixed asset investment expanded 5.7% year-to-date in July, slightly below the 5.8% increase in January–June and market expectations of a 5.8% increase.

The result reflected a stronger contraction in the primary sector while growth in the tertiary sector slowed; however, investment growth in secondary sector accelerated. Meanwhile, property investment growth slowed over the same period.

In terms of ownership, investment growth in fixed assets of state-owned enterprises accelerated but, conversely, decelerated among private companies in January–July.

On a month-on-month basis, investment in urban fixed assets rose a seasonally-adjusted 0.43% in July, marginally down from the 0.44% expansion in June.

FocusEconomics Consensus Forecast participants expect fixed-asset investment to grow 6.3% in 2019, which is unchanged from last month’s Consensus. In 2020, the panel sees fixed-asset investment growth at 6.2%.

Author: Ricard Torné, Lead Economist

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China Investment Chart

China Investment July 2019

Note: Month-on-month changes of seasonally adjusted urban fixed-asset investment index and annual growth rate (year-to-date) in %.
Source: National Bureau of Statistics of China (NBS).

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