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.