China's fixed asset investment rises in 2024, with high-tech industries seeing rapid growth

China's investment in fixed assets scaled up in 2024, with significant growth observed in high-tech industries, according to Kang Yi, head of the National Bureau of Statistics (NBS), on Friday.

At a press conference introducing the performance of China's national economy in 2024, Kang further provided detailed figures.

"In 2024, the investment in fixed assets (excluding rural households) reached 51,437.4 billion yuan, up by 3.2 percent over the previous year. The investment in fixed assets was up by 7.2 percent with the investment in real estate development deducted," said Kang.

Breaking down the figures, Kang noted that the investment in infrastructure went up by 4.4 percent, manufacturing up by 9.2 percent, and real estate development down by 10.6 percent. The floor space of newly-built commercial buildings sold was 973.85 million square meters, down by 12.9 percent; and the total sales of newly-built commercial buildings were 9,675.0 billion yuan, down by 17.1 percent, he explained.

In terms of industries, the investment in the primary industry went up by 2.6 percent; that in the secondary industry up by 12.0 percent; and that in the tertiary industry down by 1.1 percent. Private investment edged down by 0.1 percent. Excluding the investment in real estate development, private investment grew by 6.0 percent, according to Kang.

"The investment in high-tech industries grew by 8.0 percent. Specifically, the investment in high-tech manufacturing and high-tech services grew by 7.0 percent and 10.2 percent, respectively. In terms of high-tech manufacturing, the investment in manufacturing of aerospace vehicles and equipment, as well as in manufacturing of computers and office devices grew by 39.5 percent and 7.1 percent, respectively. In terms of high-tech services, the investment in technological services and in services based on commercialized scientific and technological transformation went up by 30.3 percent and 11.4 percent, respectively. In December, the investment in fixed assets (excluding rural households) grew by 0.33 percent month on month," said Kang.

China's fixed asset investment rises in 2024, with high-tech industries seeing rapid growth

China's fixed asset investment rises in 2024, with high-tech industries seeing rapid growth

The picturesque county of Yangshuo in south China's Guangxi Zhuang Autonomous Region has become a magnet for travelers from around the world during the five-day May Day holiday starting on Thursday.

One of the most popular destinations for tourists is the famed Ten-mile Gallery, a scenic stretch lined with dramatic limestone peaks that rise like an ink painting brought to life.

Along the roadside, the presence of foreign tourists adds a lively exotic vibe to the tranquil beauty of the travel destination.

Some of them pedal along riverside paths, while others drift leisurely on bamboo rafts, taking in the natural wonders.

At local food stalls in streets and at scenic spots, foreign visitors, intrigued by a traditional snack or delicacy, are often met with friendly stall owners who patiently explain how it's made and how to enjoy it.

For many foreign tourists, Yangshuo offers more than a feast for the eyes. It's a heartfelt connection to Chinese culture, kindness, and the enduring charm of life amid the lush mountains and lucid waters.

"I like the nature here. It's very beautiful and nice. The people here are very friendly and very welcoming," said Alain, a tourist from the Netherlands.

In Jiwodu Village along the Yulong River in Yangshuo, there are more than 30 hotels and homestays.

Surrounded by green mountains and flowing waters, and featuring traditional architecture with a rustic charm, the village has become a favorite for many foreign travelers.

"We've been having a very good time. We came here by boat on the river cruise and we've been enjoying the landscapes which are very beautiful. And people are very, very friendly which is something that we found to be very nice," said Natalie, a German tourist.

foreign tourists flock to south China for taste of scenic charm, hospitality