China’s fixed-asset investment up 5.5% in January-July

BEIJING — China's fixed-asset investment (FAI) rose 5.5 percent year-on-year in the first seven months of the year, down from 6 percent for January-June, data showed on Aug 14.

On a monthly basis, FAI edged up 0.43 percent from June, according to data from the National Bureau of Statistics (NBS).

FAI growth has been declining since the beginning of this year.

Despite the slower FAI growth, the country has a better investment structure while economic growth is generally stable and within a reasonable range, NBS spokesperson Liu Aihua said.

Investment in infrastructure grew 5.7 percent in the first seven months, down from 7.3 percent for the first half of the year. FAI in high-tech manufacturing and equipment manufacturing jumped 12.2 percent and 10 percent respectively during the period.

Private investment rose at a faster pace than the overall growth. FAI by the private sector climbed 8.8 percent year-on-year in the first seven months, up from 8.4 percent in the first half.