China Investment June 2021


China: Nominal fixed investment growth eases in June

July 15, 2021

Nominal urban fixed asset investment grew 12.6% in year-to-date terms in June, which followed May's 15.4% increase. June's slowdown largely reflected easing activity in the tertiary sector and the secondary sector.

On a monthly basis, nominal urban fixed asset investment rose 0.4% in seasonally-adjusted terms in June, matching May’s expansion.

Looking ahead, fixed-asset investment in H2 should be powered by manufacturing investment, thanks to government support for the sector under the dual-circulation strategy. At the same time, property investment will likely be weighed on by the authorities’ efforts to avoid asset bubbles and the build-up of financial risk in the housing market.

FocusEconomics Consensus Forecast participants expect nominal fixed-asset investment to grow 7.8% in 2021, which is up 0.2 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 June 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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