China's investment in fixed assets (excluding rural households) reached 327042 trillion yuan in the first eight months of this year, up 3.2 percent year on year and 0.2 percentage points lower than that in the January-July period, according to data released by the National Bureau of Statistics. Among them, the investment in the manufacturing sector grew by 5.9 percent year on year, 2.7 percentage points higher than the total fixed asset investment.

      Fu Linghui, spokesman for the National Bureau of Statistics, said that China's manufacturing industry is in a stage of structural adjustment and optimization, with some industries facing capacity adjustment and product structure upgrading, while emerging industries are developing better and have strong growth drivers for investment, which has obvious supporting role for manufacturing investment. In the first eight months, investment in the manufacturing sector grew 5.9 percent year on year, 0.2 percentage points faster than in the January-July period. Among them, investment in equipment manufacturing increased by 14.3 percent. Driven by the positive development of new energy vehicles, investment in the automobile manufacturing industry increased by 19.1 percent in the first eight months.

      Statistics show that investment in high-tech industries is growing at a good pace. In the first eight months, investment in high-tech industries grew 11.3 percent year on year, 8.1 percentage points higher than total fixed asset investment. In particular, investment in high-tech manufacturing grew by 11.2 percent year on year, 5.3 percentage points higher than that in manufacturing. And that of high-tech services grew by 11.5 percent, 10.6 percentage points higher than that of the service sector.
      Investment in areas related to people's livelihood continued to increase. In the first eight months of this year, investment in the production and supply of electricity, heat, gas and water grew by 26.5 percent, and in agriculture by 10.4 percent.
     "Recently, relevant departments have introduced a series of measures to stabilize and expand private investment, which will play a positive role in stimulating the vitality of private investment." Fu said that in the next stage, with the effective play of government investment and policy incentives, policies to stabilize the real estate market gradually become effective, the internal impetus of investment is expected to increase, and the investment structure will continue to optimize, which is conducive to promoting high-quality economic development.

Source: Xinhua