China's fixed-asset investment increased 5.4 percent from a year earlier to CNY 46.12 trillion in January to September 2019, compared to a 5.5 percent rise in the first eight months of the year and matching market consensus, as private investment growth eased (4.7 pct vs 4.9 pct in January-August) while public investment rose further (7.3 percent from 7.1 percent). By sector, fixed-asset investment advanced at a softer pace for manufacturing (2.5 pct vs 2.6 pct); and transport, storage and postal industry (4.7 pct vs 5.5 pct). Meantime, fixed-asset investment growth was unchanged for both mining (at 26.2 pct), and utilities (at 0.4 pct). On the other hand, fixed-asset investment grew faster for water conservancy, environment and public facilities management (3.5 pct vs 2.4 pct), while fell less in agriculture, forestry, fishery (-2.1 pct vs -3.0 pct). Fixed Asset Investment in China averaged 19.46 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.