China’s FAI growth reaches 1.8 percent in Jan-Oct

Monday, 16 November 2020 11:46:40 (GMT+3)   |   Shanghai
       

In the January-October period this year, total fixed asset investments (FAI) (excluding rural households) in China amounted to RMB 48.3292 trillion ($7.32 trillion), up 1.8 percent year on year, 1.0 percentage point higher than the increase recorded in the January-September period of the current year, as announced by China's National Bureau of Statistics (NBS).

In the January-October period, total FAI in China's infrastructure rose by 0.7 percent year on year, 0.5 percentage points higher than the rise recorded in the January-September period, signaling that investment in infrastructure saw a further improvement in the given period amid the stimulus policy issued by the Chinese government, which bolstered demand for steel and provided support for steel prices in October.

Investments in China's mining sector and manufacturing sector in the January-October period dropped by 8.4 percent and 5.3 percent year on year, respectively, 1.1 and 1.2 percentage points slower than the declines recorded in the first nine months of the year.

$1 = RMB 6.6048


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