China fixed asset investment falls 6.7% in first seven months

China's fixed asset investment (excluding rural households) fell by 6.7% year-on-year during the first seven months of the year, according to data released by the National Bureau of Statistics. The total investment reached 26.03 trillion yuan, a decline that exceeds the previously expected 6% drop and represents a widening contraction compared to the 5.7% decrease recorded in June.

Sectoral performance showed mixed results. Investment in the primary industry fell by 0.5%, the secondary industry by 2.1%, and the tertiary industry by 9.5%. Within the industrial sector, mining investment grew by 3.3%, while manufacturing investment declined by 1.7%. Notably, investment in information transmission grew by 26.0%, alongside increases in waterborne transport (16.2%) and air transport (15.7%).

Regional data indicates declines across all major areas, with the Northeast region seeing the sharpest drop at 24.6%. Investment from private enterprises fell by 9.4% year-on-year. On a month-on-month basis, total fixed asset investment decreased by 1.42% in July.