China Fixed Asset Investment

China’s fixed-asset investment rose 3.2% year-on-year from January to December 2024, slightly below market expectations of 3.3% growth. Investment in the secondary sector remained strong at 12%, driven by increases in mining (10.5%), manufacturing (9.2%), and electricity, heat, gas, and water production and supply (23.9%). Meanwhile, investments in the primary (2.6% vs 2.4% in January to November) and the tertiary (4.4% vs 4.2%) sectors went up. However, real estate investment shrank by 10.6%. On a monthly basis, fixed-asset investment increased by 0.3% in December, up from a 0.1% gain in the preceding month.