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China Investment February 2021

China: Nominal fixed investment growth surges in January–February

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.

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