China's fixed-asset investment increased 5.7 percent from a year earlier to CNY 34.89 trillion in January to July 2019, compared to a 5.8 percent rise in the first six months of the year and below market consensus of 5.8 percent, as private investment growth eased (5.4 percent vs 5.7 percent in January-June) while public investment rose faster (7.1 percent vs 6.9 percent). By sector, fixed-asset investment went up softer for transport, storage and postal industry (4.6 percent vs 5.1 percent) while investment in agriculture, forestry, fishery dropped continued to drop (-0.9 percent vs -0.8 percent) and that in utilities was unchanged (vs -0.5 percent). On the other hand, fixed-asset investment grew faster for mining (27.4 percent vs 22.3 percent), manufacturing (3.3 percent vs 3.0 percent), water conservancy, environment and public facilities management (2.6 percent vs 2.5 percent). Fixed Asset Investment in China averaged 19.57 percent from 1996 until 2019, reaching an all time high of 53 percent in February of 2004 and a record low of 5.30 percent in August of 2018.
Fixed Asset Investment in China is expected to be 5.60 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Fixed Asset Investment in China to stand at 5.30 in 12 months time. In the long-term, the China Fixed Asset Investment is projected to trend around 5.30 percent in 2020, according to our econometric models.