China's FixedAsset Investment up 16.12

10/30/2014 9:55:31 AM

(MENAFN- Qatar News Agency) Beijing October 22 (QNA) - China's urban fixed-asset investment grew 16.1% t year on year to 35.78 trillion yuan about (5.8 trillion US dollars) in the first nine months of 2014 the National Bureau of Statistics announced.

The growth pace retreated 0.4% from the rate seen during the Jan.-Aug. period largely due to a continuing downturn in the real estate market that has restrained investment in the sector as well as related industries according to China's (Xinhua) News Agency.

The NBS said property investment slowed further in the Jan.-Sept. period growing only 12.5% year on year down 0.7% from the growth rate in the first eight months.

The sluggish property market a major growth engine for China dragged down growth in the broader economy which slowed to 7.3% in the third quarter.

Notably social investment gained 18.3% during the period accounting for 64.7% of total investment. (QNA)

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