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1st Ld: China investment growth steady, private sector slightly improves

Xinhua, November 14, 2016 Adjust font size:

China's fixed-asset investment maintained steady growth in the first ten months of 2016, with investment by the private sector showing signs of improvement, data released Monday showed.

Fixed asset investment grew 8.3 percent year on year to 48.44 trillion yuan (7.1 trillion U.S. dollars) during the January-October period, up from the 8.2-percent gain seen in the first three quarters, the National Bureau of Statistics (NBS) said.

Fixed-asset investment includes capital spent on infrastructure, property, machinery and other physical assets.

Investment by the state sector surged 20.5 percent during the period, while private-sector investment increased 2.9 percent, 0.4 percentage points higher than that in the first nine months, as the government intensified efforts to boost growth in the sector.

The torpid growth of private investment this year has concerned policymakers as the private sector regularly contributes more than 60 percent of China's GDP growth and provides over 80 percent of jobs.

Private investment accounted for 61.5 percent of all investment in the first ten months, the NBS data showed. Endit