China's fixed-asset investment continued its stable growth in the first quarter of this year, while investment in high-tech industries showed rapid growth, data from the National Bureau of Statistics (NBS) showed on Wednesday.
"In the first three months, China's investment in fixed assets (excluding rural households) reached 10.3174 trillion yuan (about 1.404 trillion U.S. dollars), up 4.2 percent, 1.0 percentage point faster than that of the previous year. Deducting the investment in real estate development, the investment in fixed assets grew by 8.3 percent. Specifically, the investment in infrastructure rose by 5.8 percent year on year, that in manufacturing soared by 9.1 percent, and that in real estate development declined by 9.9 percent," said Sheng Laiyun, deputy head of the NBS.
The official also said that during the period, the floor space of newly-built commodity housing units sold stood at 218.69 million square meters, down by 3 percent year on year, a decline narrowed by 2.1 percentage points compared to that of the first two months.
Meanwhile, the total sales of newly-built commodity housing units came in at 2.0798 trillion yuan (about 282.92 billion U.S. dollars), down by 2.1 percent from a year ago, a drop narrowed by 0.5 percentage points, he said.
By industry, the investment in the primary industry surged by 16 percent year on year, that in the secondary industry rose by 11.9 percent, and that in the tertiary industry slightly grew by 0.1 percent, the official said, adding that private investment rose by 0.4 percent.
"The investment in high-tech industries grew by 6.5 percent year on year. In March, the investment in fixed assets (excluding rural households) grew by 0.15 percent month on month," he said.
China's fixed-asset investment expands with rapid growth in high-tech sectors
Cuba held rallies and marches in all provinces on Thursday to celebrate the May Day International Workers' Day, with workers unions, citizens, and global visitors gathered at Havana's Revolution Square for a grand parade.
The May Day parades have been an annual tradition in the country since the victory of the 1959 revolution. For this year, the parades called for solidarity amid global economic turbulence and higher U.S. sanctions.
Started in the early morning, enthusiastic marchers and union workers grouped in blocs representing different unions, holding banners with all kinds of slogans to show support for the government and celebrate the national event.
The parade was presided over by top Cuban government and Communist Party leaders including former President Raul Castro, current President Miguel Diaz-Canel, and Premier Manuel Marrero.
In his remarks at the rally, Cuban Workers' Confederation leader Ulises Guilarte said that this year's celebration took place amid a complex world scenario, marked by the rise of a new and dangerous imperialist offensive. However, Cuban people will keep struggling for a better future, noted Guilarte.
The island country has long been coping with an economic crisis marked by high inflation, shortages, and U.S. sanctions, but the crowds showed their support for the government with the enthusiastic march.
"The revolution remains alive, our revolution will keep advancing; and despite the difficulties we are facing, we are still living a happy life, and we are eager to reach new and nice achievements for our nation," said Lucia Rodriguez, a local demonstrator.
More than 1,000 social activists from around the world also joined the celebration at the Revolution Square, demonstrating against the U.S. trade embargo on Cuba.
"I can imagine, due to the blockade, that Cuba needs to have strong relationships of solidarity, so I'm so happy I can be here, and be part of those relationships," said a Canadian activist during the event.
Cuba holds rallies, parades to celebrate International Workers' Day
