China's fixed-asset investment expands 6.2% in January-May
China's fixed-asset investment saw steady growth in the first five months of this year, official data showed Wednesday.
Fixed-asset investment jumped 6.2 percent from a year earlier to 20.6 trillion yuan (US$3.05 trillion) in the first five months, the National Bureau of Statistics said in a statement.
The growth slowed from a 6.8-percent increase registered in the first four months. In May, fixed-asset investment picked up 0.72 percent from a month earlier.
From January to May, fixed-asset investment from the private sector increased 4.1 percent from a year earlier to 11.71 trillion yuan.
Despite COVID-19 resurgences, investment in infrastructure and manufacturing gained 6.7 percent and 10.6 percent year on year, respectively.
Investment into the high-tech manufacturing and high-tech services sectors sustained growth momentum, jumping 24.9 percent and 10.8 percent year on year, NBS data showed.
The health care and education sectors also saw investment rise 27.8 percent and 9 percent during the period.
NBS spokesperson Fu Linghui cautioned that while the negative impact of COVID-19 continues to wane, challenges still lie ahead for China's economic recovery as the international environment remains complex.
Investment has traditionally been a key engine for growth. In the face of COVID-19 flare-ups and increasing downward pressure on the economy, China has underlined the role of effective investment with a package of measures unveiled last month.
"China's economic performance is expected to further improve in June, as the pro-growth measures are taking effect," Fu said.