Decline in China’s FAI narrows further to 0.3 percent in Jan-Aug

Tuesday, 15 September 2020 14:30:31 (GMT+3)   |   Shanghai

In the January-August period this year, total fixed asset investments (FAI) (excluding rural households) in China amounted to RMB 37.8834 trillion ($5.6 trillion), down 0.3 percent year on year, 1.3 percentage points slower than the decreasing pace recorded in the January-July period of the current year, as announced by China's National Bureau of Statistics (NBS). 

In the January-August period, total FAI in China's infrastructure declined by 0.3 percent year on year, 0.7 percentage points slower than the decrease recorded in the January-July period, indicating that investment in infrastructure has indicated a further improvement in the given period amid stimulus measures by local government, which boosted the demand for steel and bolstered steel prices in August. 

Investments in China's mining sector and manufacturing sector in the January-August period dropped by 9.5 percent and 8.1 percent year on year, respectively, 2.1 percentage points and 2.1 percentage points slower than the declines recorded in the first seven months of the current year. 

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