China: Investment growth gains steam in January–June
Urban fixed asset investment expanded 5.8% year-to-date in June, above the 5.6% increase in January–May. Moreover, the figure overshot the 5.6% increase expected by market analysts.
The result reflected a softer contraction in the primary sector as well as faster growth in the tertiary sector. Conversely, the secondary sector expanded at a softer pace compared to the previous month. Moreover, property investment growth continued to slow in the same period.
In terms of ownership, investment growth in fixed assets of both state-owned enterprises and private companies accelerated in January–June.
On a month-on-month basis, investment in urban fixed assets rose a seasonally-adjusted 0.44% in June, marginally up compared to the 0.42% expansion in May.