In the January-May period this year, total fixed asset investments (FAI) (excluding rural households) in China amounted to RMB 19.9194 trillion ($2.8 trillion), down 6.3 percent year on year, 4.0 percentage points slower than the decreasing pace recorded in the January-April period of the year, as announced by China's National Bureau of Statistics (NBS).
In the January-May period, total FAI in China's infrastructure declined by 6.3 percent year on year, 5.5 percentage points slower than the rate of decline recorded in the January-April period, indicating that investment in infrastructure has seen some further improvement in the given period, which stimulating demand for steel and providing solid support for steel prices in May.
The growth rates of investments in China's mining sector and manufacturing sector in the January-May period dropped by 8.7 percent and 14.8 percent year on year, respectively, 0.5 percentage points and 4.0 percentage points slower than the rates of decline recorded in the first four months of the year.
$1 = RMB 7.0902