China's fixed-asset investment increased 6.1 percent from a year earlier to CNY 4,445 billion in January-February 2019, compared to 5.9 percent in 2018 and slightly above market consensus of a 6 percent rise. Public investment went up 5.5 percent (vs 1.9 percent in 2018) and private investment, which accounts for about 60 percent of overall investment in China, advanced 7.5 percent (vs 8.7 percent in 2018). By sector, fixed-asset investment growth accelerated for both mining (41.4 percent vs 4.1 percent) and transport, storage and postal industry (7.5 percent vs 3.9 percent). Meanwhile, fixed-asset investment growth eased for agriculture, forestry, animal husbandry, and fishery (4.0 percent vs 12.3 percent) and manufacturing (5.9 percent vs 9.5 percent). On the other hand, fixed-asset investment declined for utilities (-1.4 percent vs -6.7 percent) and water conservancy, environment and public facilities management (-0.4 percent vs 3.3 percent). Fixed Asset Investment in China averaged 19.94 percent from 1996 until 2018, reaching an all time high of 53 percent in February of 2004 and a record low of 5.30 percent in August of 2018.
Fixed Asset Investment in China is expected to be 6.40 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Fixed Asset Investment in China to stand at 6.40 in 12 months time. In the long-term, the China Fixed Asset Investment is projected to trend around 6.20 percent in 2020, according to our econometric models.