NBS: China's Growth Driven by Investment

飞雪寒冰

Investment accounted for 6.2 percentage points of gross domestic product growth in the first half, with consumption accounting for 3.8 percentage points, National Bureau of Statistics spokesman Li Xiaochao said.

飞雪寒冰

China's GDP grew 7.1 percent year-on-year in the first half with the main drag on GDP proving to be exports, accounting for minus 2.9 percentage points.

"The economy is recovering and the recovery is intensifying," Li said.

Fixed-asset urban investment rose 33.6 percent to 7.8 trillion yuan in the first half, with infrastructure the dominant sector due to the funding unleashed by China's economic stimulus package. Infrastructure investment, excluding power, rose 57.4 percent, with investment in rail transport up 126. 5 percent.

On the consumption side, big-ticket items performed strongly during the half with auto sales up 31.7 percent and property sales up 17.7 percent.