China: Nominal fixed investment growth surges in January–February
March 16, 2021
Nominal urban fixed asset investment surged 35.0% year-on-year in January–February (December: +2.9% year-on-year), supported in part by a highly favorable base effect. Investment was strong across sectors, but grew fastest in the primary industry. Moreover, investment in high-tech manufacturing and services was also strong, amid the government’s drive to develop a knowledge-based economy.
On a seasonally-adjusted monthly basis, nominal urban fixed asset investment rose 2.4% in February.
Fixed investment should be robust this year, aided by the government’s push to strengthen the domestic market and develop high-end manufacturing under its Dual Circulation strategy.