In the January-July period this year, total fixed asset investments (FAI) (excluding rural households) in China amounted to RMB 26.0328 trillion ($3.8 trillion), down 6.7 percent year on year, 1.0 percentage point faster than the decrease recorded in the first six months, as announced by China's National Bureau of Statistics (NBS). The bigger year-on-year decline indicated insufficient domestic demand in the economy.
In the first seven months, total FAI in China's infrastructure decreased by 3.6 percent year on year, 1.2 percentage points faster compared to the decline recorded in the first six months this year, as high summer temperatures and heavy rains brought by typhoons in July negatively affected construction activities.
Fixed asset investments in China's mining sector and manufacturing sector in the given period increased by 3.3 percent and moved down by 1.7 percent year on year, respectively.
