China Jan-July Urban FAI Up 32.9%

飞雪寒冰

China's urban fixed-asset investment in the first seven months grew a slower-than-expected 32.9 percent year-on-year to 9.5 trillion yuan, according to National Bureau of Statistics figures released on Aug. 11.

Analysts had estimated urban FAI would grow 34 percent year-on-year, driven by spending on projects under the government's 4-trillion-yuan stimulus package.

The July figure was not released separately. Urban FAI was up 35.3 percent year-on-year in June.

The growth rate of urban FAI for the seven-month period was down 0.7 percentage points from that of  the first half in nominal terms, or 0.4 percentage points in real terms.

Real estate investment apparently accelerated in July, reaching 1.8 trillion yuan in the first seven months, up 11.6 percent year-on-year, or 1.7 percentage points faster than the first half.

The central government has invested 380 billion yuan under the stimulus plan since November, with the latest round of spending totaling 80 billion yuan, Zhu Zhixin, vice minister of the National Development and Reform Commission, said last week.

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