China Fixed Investment Drops 5.7%, Worse than Forecast

2026-07-15 02:14 By Judith Sib-at 1 min. read

China’s fixed-asset investment declined by 5.7% year-on-year in the first half of 2026, worse than market forecasts of a 4.9% drop and the 4.1% fall recorded in the January-May period.

Property investment remained the biggest drag, plunging 18% after a 16.2% decline in January-May, as persistently weak housing demand, tighter financing conditions, and debt burdens among developers continued to weigh on the sector.

Investment in infrastructure (-2.4% vs 0.6% in January-May) and manufacturing (-1.2% vs -0.4%) also dropped.

Among industries, investment in the primary sector rose at a much slower pace (0.9% vs 5.9%), while investment in the secondary sector (-1.1% vs 0.1%) and tertiary sector (-8.4% vs -6.8%) declined.

Excluding the property sector, fixed-asset investment was down by 2.7% in January-June, slipping further from a 1.2% fall in the first five months of the year.

On a monthly basis, fixed-asset investment decreased by 0.37% in June, easing from a 1.25% drop in May.



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China Fixed Investment Drops 5.7%, Worse than Forecast
China’s fixed-asset investment declined by 5.7% year-on-year in the first half of 2026, worse than market forecasts of a 4.9% drop and the 4.1% fall recorded in the January-May period. Property investment remained the biggest drag, plunging 18% after a 16.2% decline in January-May, as persistently weak housing demand, tighter financing conditions, and debt burdens among developers continued to weigh on the sector. Investment in infrastructure (-2.4% vs 0.6% in January-May) and manufacturing (-1.2% vs -0.4%) also dropped. Among industries, investment in the primary sector rose at a much slower pace (0.9% vs 5.9%), while investment in the secondary sector (-1.1% vs 0.1%) and tertiary sector (-8.4% vs -6.8%) declined. Excluding the property sector, fixed-asset investment was down by 2.7% in January-June, slipping further from a 1.2% fall in the first five months of the year. On a monthly basis, fixed-asset investment decreased by 0.37% in June, easing from a 1.25% drop in May.
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China’s fixed-asset investment contracted by 4.1% year-on-year in the January–May 2026 period, exceeding market expectations for a 2.0% decline and worsening from the 1.6% drop recorded in the first four months of the year. Property investment remained the main drag, falling 16.2%, compared with a 13.7% decline in the January–April period, while smaller increases were recorded in infrastructure and manufacturing investment, easing to 0.6% from 4.3% and to 0.4% from 1.2%, respectively. Among industries, investment growth slowed in the primary industry (5.9% vs 10.1%) and the secondary sector (0.1% vs 2.5%), while investment in the tertiary sector fell further (-6.8% vs -4.2%). Excluding the property sector, fixed-asset investment decreased by 1.2% in the first five months of 2026, reversing from a 1.3% increase in the January–April period. On a monthly basis, fixed-asset investment fell by 1.91% in May, slipping further from a 2.36% drop in April.
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