China Investment


China: On downward spiral investment hits lowest level since 2001

June 13, 2014

In the January–May period, urban fixed-asset investment excluding rural households (FAI) rose 17.2% over the same period last year, which was a notch below the 17.3% increase recorded in the first four months of the year. The growth rate, which matched market expectations, represented the weakest expansion in investment since December 2001. The deceleration resulted from slower growth in both the primary and the secondary sectors, while investment in the tertiary sector accelerated in May.

A month-on-month comparison shows that investment in urban fixed assets rose a seasonally-adjusted 1.32% in May, which was marginally below the 1.34% increase tallied in April.

The government set a growth target of 17.5% for urban fixed-asset investment this year. FocusEconomics Consensus Forecast participants expect fixed-asset investment to grow 18.7% in 2014, which is down 0.1 percentage points from last month’s Consensus. In 2015, the panel sees fixed-asset investment growing 18.0%.

Author: Ricard Torné, Lead Economist

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China Investment Chart

China Investment May 2014

Note: Month-on-month changes of seasonally adjusted urban fixed-asset investment index and annual growth rate (year-to-date) in %. Owing to seasonal factors related to the Lunar New Year, annual figures in January and February are reported together.
Source: National Bureau of Statistics of China (NBS).

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