China Fixed Asset Investment

China’s fixed-asset investment rose by 3.4% year-on-year in January to October 2024, slightly less than market expectations of a 3.5% growth. Investment growth in the secondary sector remained steady (at 12.3%), with increases in mining (13.2%), manufacturing (9.3%), and electricity, heat, gas, and water production and supply (24.1%). Meanwhile, investments in the primary (2.5% vs 2.3% in January to September) and the tertiary (4.3% vs 4.1%) sectors went up. However, real estate investment declined by 10.3% from a year earlier in the first ten months of the year. On a monthly basis, fixed investment grew by 0.16% in October, slowing from a 0.54% rise in the previous month.