Annual growth of China’s fixed-asset investment averages 9.4 pct in 2013-21

China’s fixed-asset investment (FAI) grew at an average annual rate of 9.4 percent from 2013 to 2021, sustaining a steady expansion and boosting economic development, an official report showed Friday.

Accumulative investment in fixed assets in the country totaled 409 trillion yuan (about 58.5 trillion U.S. dollars) from 2013 to 2021, according to the report released by the National Bureau of Statistics.

In 2021 alone, China’s FAI reached 55.3 trillion yuan, compared with 28.2 trillion yuan in 2012, official data showed.

Infrastructure investment has seen steady growth, registering an average annual growth rate of 12 percent from 2013 to 2021, 2.3 percentage points higher than that of the total FAI, according to the report.

From 2013 to 2021, the real estate sector attracted a total of 103 trillion yuan worth of funds, with an average annual growth rate of 9.2 percent.

The report also highlighted the stronger role of investment in nurturing new growth drivers. Funds flowing into scientific research and technology services have maintained rapid growth, increasing at an annual rate of 12.1 percent during the period.

Green investment has become a new trend amid the country’s pursuit of low-carbon development, with investment in ecological protection and environmental governance rising 22.7 percent annually, the report stated. Enditem