China's investment in fixed assets continued to expand, with more investment going to high-tech industries. During the first seven months this year, high-tech investments rose 10.4% year-on-year, faster than the 3.6% rise of overall fixed-asset investments, the National Bureau of Statistics (NBS) said. Investments in high-tech manufacturing increased 9.7% year-on-year from January to July, with investment in aviation, spacecraft and equipment manufacturing growing by 37.7%, and that in computer and office equipment manufacturing increasing by 10.8%. Investment in high-tech services also showed a rapid growth of 11.9% in the first seven months, according to the NBS. In particular, investment in professional and technical services increased by 25.4% and investment in e-commerce services increased by 17.9%. Since the beginning of 2024, the high-tech manufacturing sector, characterized by high tech, high efficiency and high quality, has witnessed a strong growth, becoming a bright spot in the Chinese economy.
China's high-tech manufacturing sector has kept attracting more investment, thanks to the rapid development of new quality productive forces. The high-tech sector is becoming more energy-saving, more digitalized and greener. From January to July, national fixed-asset investment reached CNY28.76 trillion, up 3.6% year-on-year. Infrastructure investment rose 4.9% year-on-year, and manufacturing investment increased 9.3%. On the whole, investment in fixed assets has remained on the expansion track, while being optimized in structure, Liu Aihua, Spokesperson for the NBS, said. “The supporting role of large investment projects is significant, and the effect of large-scale equipment renewal policies will continue, promoting the expansion of the overall investment scale,” said Liu.
Liu pointed out that from January to July, the number of investment projects with a planned investment of CNY100 million or above rose by 7.6% year-on-year. Investment in the purchasing of equipment rose 17%, and investment in manufacturing technology transformation rose 10.9%, maintaining rapid growth. Excluding investment in the real estate sector, which fell 10.2%, fixed-asset investment (FAI) rose 8.0% year-on-year during the January-July period, the Global Times reports.
