China: Investment growth moderates in January–September
Urban fixed asset investment expanded 5.4% year-to-date in September, below the 5.5% increase in January–August but meeting market expectations.
The result reflected a slowdown in growth in the secondary and tertiary sectors, offset somewhat by a slowing rate of contraction for the primary sector. Meanwhile, property investment growth remained at 10.5%, the joint lowest rate since the start of the year. In terms of ownership, investment growth in fixed assets of state-owned enterprises accelerated to 7.3% in September from 7.1% in August, while the expansion in investment among private companies continued to soften in January–September to a 4.7% rise from a 4.9% increase the month prior.
On a month-on-month basis, investment in urban fixed assets rose a seasonally-adjusted 0.41% in September, marginally down from the 0.42% expansion in August.