Business News Asia
The National Bureau of Statistics of China reports that fixed asset investment in China increased by 12.2% year-on-year in the first two months of 2022.
Fixed asset investment in January-February is about 5.08 trillion yuan, up 7.3% from the same period in 2021.
Fixed capital formation increased by 0.66% month-on-month only in February. Private investment increased by 11.4% year-on-year in the first two months.
Investments in the primary industry increased by 8.8%, in the secondary industry by 19.6%, and in the tertiary industry by 9.5% compared to the previous year.
Infrastructure investment rose by 8.1% and production increased by 20.9%. Investment in manufacturing increased by 42.7% and high-tech services by 19.6% year-on-year.
Xinhua news agency reported that investment in fixed assets consists of funds used for infrastructure, real estate, machinery, and other fixed assets.
The National Bureau of Statistics of China (NBS) reported today that the Chinese housing market stabilized overall in February. House prices in 70 major cities rose slightly month on month.
According to NBS, new home prices in China’s four largest cities – Beijing, Shanghai, Shenzhen and Guangzhou – rose 0.5% month-on-month in February.
Meanwhile, new home prices in 31 second-tier Chinese cities were unchanged in February from January. New home prices in 35 third-tier cities fell 0.3% in February.