China Investment April 2021


China: Nominal fixed investment growth eases in April

May 17, 2021

Nominal urban fixed asset investment rose 19.9% in year-to-date terms in April, which was a deterioration from March's 25.6% increase. The slowdown was largely due to decelerating tertiary and secondary sectors.

On a monthly basis, nominal urban fixed asset investment rose 1.5% in seasonally-adjusted terms in April, which was below March’s 2.1% expansion.

Fixed investment should continue to be robust this year, despite slowing in year-on-year terms from Q1 as the base effect grows less favorable, aided by the government’s push to strengthen the domestic market and develop high-end manufacturing under its Dual Circulation strategy.

FocusEconomics Consensus Forecast participants expect nominal fixed-asset investment to grow 7.3% in 2021, which is down 0.1 percentage points from last month’s Consensus. In 2022, the panel sees nominal fixed-asset investment growth at 4.7%.


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China Investment Chart

China Investment April 2021

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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