FAI 2017

The Fixed-asset Investment(FAI) includes capital spent on infrastructure, property, machinery and other physical assets.

China’s fixed-asset investment (excluding rural households) grew 7.2 percent year-on-year in 2017, 0.3 percentage points slower than that recorded in the first three quarters, and 0.9 percentage points slower than a year earlier. In 2017, the FAI (excluding rural households) was 63.17 trillion yuan($9.36 trillion).

In terms of different industries, investment in the primary industry was 2.09 trillion yuan, up by 11.8 percent year-on-year, and the growth rate increased 0.4 percentage points from the first eleven months; that of the secondary industry was 23.58 trillion yuan, up by 3.2 percent, and an increase of 0.6 percentage points; that of the tertiary industry was 37.50 trillion yuan, an increase of 9.5 percent, and a decrease of 0.6 percentage points.

Investment structure optimized in 2017, given the investment in the high-tech industry and equipment manufacturing surged 17 percent year-on-year and 8.6 percent year-on-year, 2.8 percentage points and 4.2 percentage points faster than the previous year, respectively. In contrast, the investment in energy-intensive manufacturing decreased 1.8 percent year-on-year.

In terms of different areas, investment in the eastern region amounted to 26.58 trillion yuan, a rise of 8.3 percent year-on-year, and the growth rate increased 0.2 percentage points from the first eleven months; that of the central region, 16.34 trillion yuan, increased 6.9 percent, and the growth rate remained at the same level from the first eleven months; that of the western region, 16.66 trillion yuan, increased 8.5 percent, a decrease of 0.8 percentage points; that of the northeastern region, 3.07 trillion yuan, increased 2.8 percent, an increase of 2.7 percentage points.

In terms of types of registration, investment by domestic enterprises was 60.46 trillion yuan, up by 7.7 percent year-on-year, and the growth rate decreased 0.1 percentage points from the first eleven months; investment by funds from Hong Kong, Macao and Taiwan was 1.36 trillion yuan, down by 4.0 percent, with the pace of decline widening by 1.1 percentage points; and investment by foreign funds was 1.13 trillion yuan, down by 2.7 percent, with the pace of decline narrowing by 2.6 percentage points.

In terms of jurisdiction of project management, central investment reached 2.36 trillion yuan, a decrease of 5.7 percent year-on-year, with the pace of decline narrowing by 0.1 percentage points from the first eleven months; local investment was 60.81 trillion yuan, up by 7.7 percent, and the growth rate dropped by 0.1 percentage points from the first eleven months.

Analysis of projects under construction or started this year showed that the total planned investment in projects under construction reached 131.16 trillion yuan, up by 18.2 percent year-on-year, and the growth rate decreased 0.5 percentage points from the first eleven months. The total planned investment in newly-started projects was 51.91 trillion yuan, up by 6.2 percent year-on-year, and the growth rate remained unchanged from the first eleven months.

In terms of paid-in funds, 62.98 trillion yuan had been invested, a rise of 4.8 percent year-on-year, and the growth rate increased 0.4 percentage points from the first eleven months. Of this total, the growth of government budgetary funds went up by 7.8 percent, a decrease of 1.7 percentage points; investment from domestic loans went up by 9.0 percent, a decrease of 0.3 percentage points; investment from self-raising funds went up by 2.3 percent, an increase of 0.6 percentage points; foreign investment decreased 3.1 percent, with the pace of decline narrowing by 0.7 percentage points; and other investment went up by 11.6 percent, an increase of 0.5 percentage points.