China’s FAI growth rises by 0.8% in Jan-Sept, shifting from decline

Monday, 19 October 2020 12:40:05 (GMT+3)   |   Shanghai
       

In the January-September period this year, total fixed asset investments (FAI) (excluding rural households) in China amounted to RMB 43.653 trillion ($6.52 trillion), up 0.8 percent year on year, shifting from a year-on-year decline of 0.3 percent recorded in the January-August period of the current year, as announced by China's National Bureau of Statistics (NBS). 

In the January-September period, total FAI in China's infrastructure rose by 0.3 percent year on year, shifting from the year-on-year drop of 0.3 percent recorded in the January-August period, indicating that investment in infrastructure showed a further improvement in the given period amid the stimulus policy issued by the Chinese government, which boosted demand for steel and provided support for steel prices in September.

Investments in China's mining sector and manufacturing sector in the January-September period dropped by 9.5 percent and 6.5 percent year on year, respectively, remaining stable and 1.6 percentage points slower than the decline recorded in the first eight months of the current year. 

$1 = RMB 6.701


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