China sees steady growth in fixed asset investments in first three quarters: NBS

China has seen steady growth in fixed asset investments in the first three quarters of this year, said a leading official of the National Bureau of Statistics (NBS) on Friday.

Speaking at a press conference on China's economic performance of the first three quarters, Sheng Laiyun, deputy director of the NBS, elaborated on the fixed asset investment growth over the past three quarters by sectors and industrial tiers, with a special focus on the high-tech field.

"The scale of fixed asset investment has continued to expand, and investment in high-tech industries grew rapidly. In the first three quarters, the national fixed asset investment logged 37.9 trillion yuan (about 5.33 trillion U.S. dollars), a year-on-year increase of 3.4 percent. Excluding real estate development investment, the national fixed asset investment increased by 7.7 percent year on year," said Sheng.

By sector, infrastructure investment increased by 4.1 percent, manufacturing investment increased by 9.2 percent, and real estate development investment decreased by 10.1 percent year on year, respectively, said Sheng.

In the first three quarters, the floor area of ​​newly built commodity housing sold nationwide totaled 702.84 million square meters, down 17.1 percent year on year, and the decline rate was narrowed by 1.9 and 0.9 percentage points respectively compared with the first half of the year and the Jan-Aug period; the total sales of new commodity housing was 6.88 trillion yuan, down 22.7 percent year on year, and the decline rate was narrowed by 2.3 and 0.9 percentage points respectively compared with above mentioned periods, said Sheng.

By industry, investment in the primary industry increased by 2.3 percent, investment in the secondary industry increased by 12.3 percent, and investment in the tertiary industry decreased by 0.7 percent, year on year respectively, said Sheng.

Private investment decreased by 0.2 percent, and with the investment in real estate development excluded, private investment posted a 6.4-percent year-on-year growth, said Sheng.

Investment in high-tech industries increased by 10.0 percent year on year, of which investment in high-tech manufacturing and high-tech services increased by 9.4 percent and 11.4 percent respectively.

Compared with the same period last year, the investment in aviation, spacecraft and equipment manufacturing, and electronic and communication equipment manufacturing increased by 34.1 percent and 10.3 percent respectively, and the investment in professional technical services, e-commerce services, and technology achievement transformation services increased by 31.8 percent, 14.8 percent, and 14.8 percent respectively, according to Sheng.

China sees steady growth in fixed asset investments in first three quarters: NBS

Xi Jinping, general secretary of the Communist Party of China Central Committee, inspected the cities of Anqing and Hefei in east China's Anhui Province on Thursday afternoon.

Xi visited the Liuchi Alley in Tongcheng City under Anqing and the Hefei Binhu Science City.

During the visits, he learnt about the local efforts to carry forward fine traditional Chinese culture, promote cultural-ethical progress, advance institutional innovation of science and technology, and accelerate the application of scientific and technological advances.

Being part of the Yangtze River Delta, Anhui Province boasts beautiful landscapes and a rich cultural heritage.

It covers an area of 140,100 square kilometers and has a population of 61.21 million.

In the first half of 2024, its GDP reached 2.3967 trillion yuan, a year-on-year growth of 5.3 percent.

To comprehensively deepen reforms and promote high-quality development in manufacturing, Anhui is focused on building a "4433" trillion-yuan industrial system. The goal is to cultivate four trillion-yuan industries, four industries exceeding 500 billion yuan, three exceeding 300 billion yuan, and three exceeding 100 billion yuan by 2027.

Anhui Province has further enhanced its capacity for technological innovation by integrating reforms in education, technology, and talent systems. The strategical emerging industries driven by innovation are continuously growing, with technological advancements turning into new momentum for high-quality development.

As a major grain-producing area, Anhui's grain output has reached 40 billion kilograms for seven consecutive years.

Anhui is systematically advancing ecological protection and restoration while accelerating the green transformation of its development model. Over the past 10 years, energy consumption per unit of GDP in the province has decreased by 30 percent.

With a long and rich history and profound cultural heritage, Anhui is actively promoting cultural prosperity and development. The aim is to stimulate cultural innovation and creativity and accelerate the establishment of a thriving and strong cultural province.

Brief look at Anhui Province as Xi goes on inspection tour