In the January-August period this year, total fixed asset investments (FAI) (excluding rural households) in China amounted to RMB 29.3092 trillion ($4.3 trillion), down 7.2 percent year on year, 0.5 percentage points faster than the decrease recorded in the first seven months, as announced by China's National Bureau of Statistics (NBS). The bigger year-on-year decline signaled insufficient domestic demand in the economy.
In the first eight months, total FAI in China's infrastructure decreased by 4.0 percent year on year, 0.4 percentage points faster compared to the decline recorded in the first seven months this year, as high temperatures and several typhoons in August exerted a negative impact on outdoor construction activities.
Fixed asset investments in China's mining sector and manufacturing sector in the given period increased by 3.4 percent and down 2.3 percent year on year, respectively.
