China: Nominal fixed investment growth rises in December
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.