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December 14, 2016

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FAI increases 8.3% in first 11 months

CHINA’S fixed-asset investment rose 8.3 percent year on year to 53.85 trillion yuan (US$7.8 trillion) in the first 11 months of 2016, data showed yesterday.

The growth was flat from the January-October period, the National Bureau of Statistics said.

Fixed-asset investment includes capital spent on infrastructure, property, machinery and other physical assets.

Infrastructure investment jumped 18.9 percent in the first 11 months, while FAI in high-tech industries surged 15.9 percent during the period, according to the data.

FAI by state-owned enterprises climbed 20.2 percent year on year during the period. Private sector FAI, which accounts for more than 60 percent of the total FAI, expanded 3.1 percent in the first 11 months, accelerating from 2.9 percent in the first 10 months.

Growth in property development investment fell slightly to 6.5 percent for the January-November period, after rapid housing price rises in major cities forced the country to impose restrictions on home purchases.

Other indicators released by the statistics bureau, including industrial production and retail sales, pointed to evidence that the world’s second-largest economy was stabilizing.


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