China's fixed-asset investment up 4.7% in first four months

BEIJING -- China's fixed-asset investment went up 4.7 percent year-on-year in the first four months of 2023, data from the National Bureau of Statistics showed Tuesday.

Fixed-asset investment totaled 14.75 trillion yuan ($2.12 trillion) from January to April, the bureau said.

Fixed-asset investment from the private sector rose 0.4 percent year-on-year in the first four months.

Industrial investment surged 8.3 percent year-on-year. Of the total, investment shrank by 2.2 percent in the mining industry, but went up 6.4 percent in the manufacturing sector. Investment in the supply of electricity, heating, gas, and water soared 24.4 percent.

Investment in infrastructure construction went up 8.5 percent year-on-year. Of the total, investment expanded 14 percent in railway transportation and 10.7 percent in water conservancy management.

In terms of regions, investment gained 9.8 percent in northeastern China, 6.2 percent in eastern China and 3.2 percent in western China, but dropped by 1.3 percent in Central China.