China Investment December 2020


China: Nominal fixed investment growth rises in December

January 18, 2021

Nominal urban fixed asset investment grew 2.9% in December (November: +2.6%) in cumulative terms. December's print marked the strongest expansion since December 2019. The stronger growth largely reflected upturns in the tertiary and secondary sectors.

On a seasonally-adjusted monthly basis, nominal urban fixed asset investment rose at a softer pace of 2.3% in December (November: +2.7% mom), the worst result since February.

Fixed investment should gain considerable steam this year, 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 7.4% in 2021, which is up 0.3 percentage points from last month’s Consensus. In 2022, the panel sees nominal fixed-asset investment growth at 4.5%.


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China Investment Chart

China Investment December 20 20

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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