From January to October, the total volume of fulfilled investment in fixed assets across China (with farmer households excluded) reported RMB48,442.9 billion and grew by 8.3%, up 0.1 percentage point than previous three quarters. The momentum for slight growth maintained for two consecutive months. The operation of fixed assets investment over the foresaid period demonstrated the following features:
I. Private investment growth rate kept on the rise and especially noted this month.
As companies kept reaping more profits and relevant policies began to produce effect gradually, private investment continued to grow faster. The volume of fulfilled private investment between January and October reached RMB29,772.5 billion and went up 2.9%, up 0.4 percentage point over previous three quarters. It managed to pick up for two months in a row. The private investment made in October registered RMB3,579.1 billion and rose by 5.9%, up 1.4 percentage points over September.
II. Investment in tertiary industry secured a strong momentum of growth and contributed a lot to the stable investment increase.
In the period from January to October, the investment in tertiary industry reported RMB27,992.6 billion and rose by 11.5%, up 0.4 percentage point over previous three quarters. That number accounted for 57.8% of the total investment, up 1.7 percentage points over the same period of last year, and drove the increase of total investment up by 6.5 percentage points.
i. Infrastructure investment increased steadily. The infrastructure investment from January to October stood at RMB9,492.8 and went up 19.4%, a same growth rate compared with previous three quarters yet 11.1 percentage points higher than that of the total investment. That number accounted for 19.6% of the total investment, up 1.8 percentage points over the same period of last year. In the infrastructure industry, the investment in ecological protection and environmental governance grew as high as 45.3%, that in public facility management by 23.6%, that in water conservancy management by 20.9%, that in information transmission by 20% and that in road transport by 15.6%. The foresaid weak fields all experienced a rapid investment growth, signaling that the efforts to bolster weak spots had produced noted effects.
ii. Investment in science, education, culture and sanitation went up at a faster pace. The investment in science, education, culture and sanitation from January to October reported RMB2,328.4 billion and rose by 19.4%, up 0.5 percentage point over previous three quarters. Among which, the investment in education grew by 21.9%, that in sanitation and social work by 21.2%, that in scientific research and technological service by 20%, and that in culture, sports and recreation by 14.8%.
iii. The growth of investment in property development gathered pace. The rapid increase in the sales volume of commercial housing gave a strong shot in the arm of property investment growth. The fulfilled investment from January to October reported RMB8,397.5 billion and rose by 6.6%, up 0.8 percentage point over previous three quarters.
III. Investment in primary industry rose at a faster speed and agriculture-related input kept growing.
Since the beginning of this year, the investment in primary industry has maintained a momentum of fast growth. That from January to October hit RMB1,536.6 billion and grew by 22%, up 0.2 percentage point over previous three quarters. It accounted for 3.2% of the total investment, 0.4 percentage point higher than the same period of last year. Among the primary industry, the investment growth rate of agriculture, fishery and animal husbandry reported 32.4%, 19.4% and 11.1%, respectively. While the investment in primary industry secured fast growth, such agriculture-related fields as construction of rural roads, power grid renovation, and construction of water conservancy projects won increasing input.
IV. Industrial investment had its structure further optimized, despite a slight fall in volume.
The industrial investment from January to October reported RMB18,568.1 billion and rose by 3%, down 0.2 percentage point over previous three quarters.
i. The manufacturing investment growth got stabilized at a low level. The manufacturing investment from January to October stood at RMB15,306.8 and grew by 3.1%, a level same with that of previous three quarters. Seen from an internal angle, the investment in consumable manufacturing from January to October rose by 7.7%. Among it, that relating to necessities of life maintained a fast growth. For instance, the investment in food manufacturing went up by 13.7%, that in the manufacturing of products for cultural and educational, industrial art, sports and recreational purposes by 13.7%, that in the farm and sideline food processing by 9.5%, and that in the medicine manufacturing by 8.9%. Affected by the fall in the prices of crude oil, cement, steel and non-ferrous metals, the investment in energy-intensive manufacturing dropped at a narrowed range and but the scale of investment still remained on the decrease.
ii. Fueled by new drivers, the industrial investment grew at a quickened speed. The investment in high-tech industries reported RMB1,827.4 billion and rose by 12.7%, up 1 percentage point over previous three quarters and up 9.7 percentage points over the growth rate of industrial investment. That number accounted for 9.8% of the total industrial investment, 0.8 percentage point higher than the same period of last year.
iii. Investment for improvement of industrial technologies saw a higher proportion. The investment for this purpose from January to October reached RMB7,474.8 billion and rose by 12%, a growth rate 9 percentage points higher than that of industrial investment. Its proportion to the total industrial investment was 40.3%, up 3.3 percentage points over the same period of last year.