China's fixed-asset investment recovers steadily in 2020

Source: Xinhua| 2021-01-18 16:17:03|Editor: huaxia

BEIJING, Jan. 18 (Xinhua) -- China's fixed-asset investment (FAI) steadily recovered in 2020, with the investment in the high-tech industry and private sector rising rapidly, data from the National Bureau of Statistics (NBS) showed Monday.

The country's FAI went up 2.9 percent year on year in 2020, according to the NBS.

The growth was 0.3 percentage points higher than that recorded in the first 11 months last year.

The FAI amounted to 51.89 trillion yuan (about 8 trillion U.S. dollars) in 2020, according to the NBS.

On a month-on-month basis, the country's fixed-asset investment climbed 2.32 percent in December 2020.

Investment by the private sector expanded to 28.93 trillion yuan last year, up 1 percent year on year, the data showed.

Investment in the primary industry went up 19.5 percent year on year, while that in the secondary industry edged up 0.1 percent. Investment in the tertiary industry added 3.6 percent, up by 0.1 percentage points from the growth seen in the first 11 months of 2020.

Meanwhile, investment in high-tech manufacturing and services jumped 11.5 percent and 9.1 percent year on year, respectively.

Last year, the investment has played a vital role in supporting China's economic growth, said Ning Jizhe, head of the NBS.

Citing the tasks listed in the country's annual economic work conference held in December last year, Ning said that in 2021, the investment policies will play their due role in strengthening areas of weakness.

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