China’s fixed-asset investment grows 3.4% Jan-Aug

China's fixed-asset investment rose 3.4 percent year on year (YoY) in the first eight months of 2024, data from the National Bureau of Statistics (NBS) showed Saturday. In a statement carried by Xinhua News Agency, the NBS said that the investment totalled CN¥32.94 trillion (about US$4.64 trillion) during the period. Investment in infrastructure construction rose 4.4 percent from a year ago during the January-August period, and manufacturing investment increased 9.1 percent. In particular, investment in high-tech industries posted robust growth, up 10.2 percent in the period. Excluding the property sector, which was still under adjustment, the country's fixed-asset investment climbed 7.7 percent YoY in the first eight months. Meanwhile, investment in property development fell 10.2 percent. Source: Emirates News Agency