Latest News Stream - Fixed Asset Investment

China’s fixed-asset investment fell by 7.2% year-on-year in the January-September 2026 period, matching the decline recorded in the first eight months of the year but slightly less than market forecasts for a 7.3% drop. Property investment remained the biggest drag, plunging 20.6% compared with a 19.9% decline in January-August, amid subdued housing demand, declining property prices, and ongoing financing challenges for developers. Infrastructure investment contracted further (-4.2% vs -4%), while manufacturing investment fell at a slower pace (-2.1% vs -2.3%). Investment also continued to decline across all three sub-industries: primary industry (-3.9% vs -2.4%), secondary industry (-2.7% vs -2.9%), and tertiary industry (-10% vs -9.9%). Excluding the property sector, fixed-asset investment decreased by 4.2% in the first nine months of the year, unchanged from its drop in January-August. Monthly, fixed-asset investment edged up by 0.07% in September, after a 0.55% fall in August.

China’s fixed-asset investment declined by 7.2% year-on-year in the January-August 2026 period, matching market expectations and following a 6.7% drop in the first seven months of the year. Property investment remained the biggest drag, slumping 19.9% (vs -19.2% in January-July), amid weak housing demand, falling home prices and persistent financing constraints among developers. Investment in infrastructure (-4% vs -3.6%) and manufacturing (-2.3% vs -1.7%) also dropped further. Investment also continued to fall across all three major industries: the primary sector (-2.4% vs -0.5%), the secondary sector (-2.9% vs -2.1%), and the tertiary sector (-9.9% vs -9.5%). Excluding the property sector, fixed-asset investment fell by 4.2% in the first eight months of the year, after a 3.7% decline in January-July. On a monthly basis, fixed-asset investment decreased by 0.5% in August, slowing from a 1.37% drop in July.

China’s fixed-asset investment dropped by 6.7% year-on-year in the January to July 2026 period, worse than market expectations for a 6.2% fall and the 5.7% decline recorded in the first half of the year. Property investment remained the biggest drag, plunging 19.2% after an 18% decline in January-June, while infrastructure investment (-3.6% vs -2.4%) and manufacturing investment (-1.7% vs -1.2%) also decreased. Among industries, investment in the primary sector decreased 0.5% after rising 0.9%, while investment in the secondary sector (-2.1% vs -1.1%) and in the tertiary sector (-9.5% vs -8.4%) fell at a faster pace. Excluding the property sector, fixed-asset investment was down by 3.7% in January-July, slipping further from a 2.7% drop in the first six months of the year. On a monthly basis, fixed-asset investment decreased by 1.42% in July, accelerating from a 0.37% fall in the preceding period.

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.

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.

China’s fixed-asset investment decreased by 1.6% year-on-year in the January–April 2026 period, against market expectations of a 1.6% increase and reversing a 1.7% rise in the first quarter. Property investment continued to decline (-13.7% vs -11.2% in January–March), while smaller increases were also recorded in infrastructure (4.3% vs 8.9%) and manufacturing (1.2% vs 4.1%) investment. Among industries, investment growth slowed in the primary industry (10.1% vs 15.9%) and the secondary sector (2.5% vs 5.8%), while investment in the tertiary sector fell further (-4.2% vs -1.0%). Excluding the property sector, fixed-asset investment rose by 1.3% in the first four months, slowing sharply from the 4.8% growth in the first quarter. On a monthly basis, fixed-asset investment dropped by 2.36% in April, following a 0.58% fall in March.

China’s fixed-asset investment rose by 1.7% year-on-year in the first quarter of 2026, falling short of market expectations for a 1.9% increase. The latest reading was slightly weaker than the 1.8% rise in the first two months. Property investment declined further, falling by 11.2% (compared with an 11.1% drop in January–February), partly offsetting gains in infrastructure (8.9%) and manufacturing (4.1%) investment. Among industries, investment in the primary sector climbed by 15.9% and the secondary sector grew by 5.8%, while investment in the tertiary sector dropped by 1.0%. Excluding the property sector, fixed-asset investment went up by 4.8% in the January–March period. On a monthly basis, fixed-asset investment increased by 0.52% in March, slowing from a 0.99% rise in February.

China’s fixed-asset investment increased by 1.8% in the January-February 2026 period, defying market expectations of a 0.4% fall. This followed a 3.8% drop in 2025, which marked the first annual decline since 1989 amid a sharp property downturn and tighter restrictions on local government borrowing. In the first two months of the year, infrastructure investment grew by 11.4% and manufacturing investment rose by 3.1%, more than offsetting an 11.1% drop in property investment. By industry, investment in the primary industry surged by 17.4% and the secondary industry increased by 5.4%, while investment in the tertiary industry decreased by 0.4%. Excluding the property sector, fixed-asset investment climbed by 5.2% in the January-February period. On a monthly basis, fixed-asset investment rose by 0.4% in February, marking the second consecutive month of growth, although slowing from a 1.3% increase in January.

China’s fixed-asset investment fell by 3.8% in 2025, worse than market forecasts of a 3% drop. This marked the first annual decline since 1989, dragged mainly by a sharp fall in property investment (-17.2%). Infrastructure investment also dropped by 2.2%, while manufacturing investment saw a modest increase of 0.6%. By industry, investment in the primary industry rose by 2.3% and the secondary industry went up by 2.5%, whereas investment in the tertiary industry contracted by 7.4%. Excluding the property sector, fixed-asset investment was down by 0.5% in 2025. On a monthly basis, fixed-asset investment dropped by 1.1% in December, following a 0.4% fall in November.

China’s fixed-asset investment fell by 2.6% year-on-year in January-November 2025 period, more than market expectations of a 2.3% decrease and following a 1.7% drop in the first ten months. This was the sharpest decline since June 2020, due to continued decreases in property investment (-15.9% vs -14.7% in January-October) and infrastructure (-1.1% vs -0.1%), alongside softer growth in manufacturing (1.9% vs 2.7%). By industry, investment growth slowed in the primary industry (2.7% vs 2.9%) and secondary industry (3.9% vs 4.8%), while investment in the tertiary sector declined further (-6.3% vs -5.3%). Excluding the property sector, fixed-asset investment rose by 0.8%, slowing from a 1.7% increase in the first ten months. On a monthly basis, fixed-asset investment dropped by 1% in November, easing from a 1.5% fall in October.

China’s fixed-asset investment decreased by 0.5% year-on-year in January–September 2025 period, defying market forecasts of a 0.2% rise and reversing a 0.5% increase in the first eight months. The downturn was due to a sharper decline in property investment (-13.9% vs -12.9% in January–August), along with slower growth in infrastructure (1.1% vs 2.0%) and manufacturing (4.0% vs 5.1%). By industry, investment growth moderated in the primary industry (4.6% vs 5.5%) and secondary industry (6.3% vs 7.6%), while investment in the tertiary industry continued to drop (-4.3% vs -3.4%). Excluding the property sector, fixed-asset investment was up by 3.0% in January–September, easing from a 4.2% increase in the first eight months. On a monthly basis, fixed-asset investment fell by 0.07% in September, following a 0.15% drop in August.

China’s fixed-asset investment rose by 0.5% year-on-year in January–August 2025 period, much less than market expectations of a 1.4% growth, compared to a 1.6% increase in the first seven months. The contraction in property investment worsened, declining 12.9% (vs -12.0% in January–July). Investment growth also eased in infrastructure (2.0% vs 3.2%) and manufacturing (5.1% vs 6.2%). By industry, investment grew at softer pace in the primary industry (5.5% vs 5.6%) and the secondary industry (7.6% vs 8.9%), while investment in the tertiary industry dropped further (-3.4% vs -2.3%). Excluding the property sector, fixed-asset investment increased by 4.2% in January–August, following a 5.3% rise in the first seven months. On a monthly basis, fixed-asset investment decreased by 0.2% in August, following a 0.5% fall in July.

China’s fixed-asset investment increased by 1.6% year-on-year in January–July 2025 period, much less than market expectations of a 2.7% rise, compared to the 2.8% growth in the first six months. The contraction in property investment worsened, slumping 12%. Investment growth also eased in infrastructure (3.2% vs 4.6% in January–June) and manufacturing (6.2% vs 7.5%). By industry, investment rose at slower pace in the primary industry (5.6% vs 6.5%) and the secondary industry (8.9% vs 10.2%), while investment in the tertiary industry continued to fall (-2.3% vs -1.1%). Excluding the property sector, fixed-asset investment grew by 5.3% in January–July, following a 5.1% increase in the first six months. On a monthly basis, fixed-asset investment dropped by 0.6% in July, reversing a 0.1% gain in June.

China’s fixed-asset investment rose by 2.8% year-on-year in the first half of 2025, coming in below market forecasts of a 3.7% growth. Investment in infrastructure increased by 4.6%, while that in manufacturing grew by 7.5%. However, real estate investment declined further, falling 11.2%. By industry, investment in the primary industry was up by 6.5%, the secondary industry increased by 10.2%, while the tertiary industry dropped by 1.1%. Excluding the property sector, fixed-asset investment rose by 5.1% in the January–June period. On a monthly basis, fixed-asset investment decreased by 0.1%.

China’s fixed-asset investment increased by 3.7% year-on-year in the January–May 2025 period, falling short of market expectations for a 3.9% rise. Investment in infrastructure grew by 5.6%, while that in manufacturing rose by 8.5%. However, real estate investment continued to drop, falling 10.7%. By industry, investment in the primary industry was up by 8.4%, the secondary industry rose by 11.4%, while the tertiary industry decreased by 0.4%. Excluding the property sector, fixed-asset investment expanded by 7.7% in the first five months of the year. On a monthly basis, fixed-asset investment edged up by 0.05%.

China’s fixed-asset investment rose by 4% year-on-year in the January–April 2025 period, less than market expectations of a 4.2% growth. Infrastructure investment grew by 5.8%, while manufacturing investment rose by 8.8%. However, real estate investment continued to decline, dropping 10.3%. By industry, investment in the primary industry increased by 13.2%, the secondary industry grew by 11.7%, while the tertiary industry edged down by 0.2%. Excluding the property sector, fixed-asset investment expanded by 8% in the first four months of the year. On a monthly basis, fixed-asset investment was up by 0.10%.

China’s fixed-asset investment grew by 4.2% year-on-year in the January–March 2025 period, slightly higher than market forecasts and the previous month’s 4.1% rise. Investment increased across all major sectors, with the primary industry rising 16%, the secondary industry up 11.9%, and the tertiary industry posting a marginal gain of 0.1%. At the same time, investments in infrastructure and manufacturing grew by 5.8% and 9.1%, respectively. Meanwhile, real estate investment continued to decline, falling by 9.9%. Excluding the property sector, fixed-asset investment increased by 8.3% in the first three months of the year. On a monthly basis, fixed-asset investment rose by 0.15%.

China’s fixed-asset investment increased by 4.1% year-on-year in January-February 2025, exceeding market expectations of a 3.6% rise. Investments in the primary (12.2%), secondary (11.4%), and tertiary (0.7%) industries all went up. Additionally, investments in infrastructure and manufacturing grew by 5.6% and 9%, respectively. Meanwhile, real estate investment declined by 9.8%. Excluding the property sector, fixed-asset investment rose by 8.4% in the first two months. On a monthly basis, fixed-asset investment increased by 0.5%.

China’s fixed-asset investment rose 3.2% year-on-year from January to December 2024, slightly below market expectations of 3.3% growth. Investment in the secondary sector remained strong at 12%, driven by increases in mining (10.5%), manufacturing (9.2%), and electricity, heat, gas, and water production and supply (23.9%). Meanwhile, investments in the primary (2.6% vs 2.4% in January to November) and the tertiary (4.4% vs 4.2%) sectors went up. However, real estate investment shrank by 10.6%. On a monthly basis, fixed-asset investment increased by 0.3% in December, up from a 0.1% gain in the preceding month.