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BIZCHINA / Center
Fixed-assets investment sees structural changes
By Xin Zhiming (China Daily)
Updated: 2007-07-20 09:25
China's growth of fixed-assets investment remained high - up by 25.9
percent - in the first six months, but has shown obvious signs of a
structural change, analysts said.
The growth rate was a drop of 3.9 percentage points over the same period
last year but 2.2 percentage points higher than three months ago, Li
Xiaochao, spokesman of the National Bureau of Statistics, said yesterday.
The growth remains quite high though it has dropped compared with last
year, said Zhuang Jian, senior economist with the Asian Development Bank
in Beijing.
"If investment doesn't slow down significantly, China will continue to
face much pressure in meeting its environment, energy and resource
consumption targets."
Many local places, such as the economically backward western provinces,
have a strong appetite for investment, he told China Daily, as they want
to catch up with their eastern counterparts.
The urban fixed-assets investment grew by 26.7 percent while the rural
investment increased by 21.5 percent. The rural investment growth was 4.8
percentage points higher than the first quarter.
Industrywise, fixed-assets investment in the primary industry, basically
agriculture, rose by 37.5 percent from January to June, much higher than
in the first quarter's 20.3 percent.
"These are positive signs," Zhuang said. The structural change indicates
China's recent emphasis on rural development is being implemented," he
said.
China has vowed to build a new and prosperous countryside to rebalance
the national economy.
The central and western regions registered a fixed-assets investment
growth of 35.6 percent and 30.2 percent respectively in the first half,
much higher than eastern regions, which achieved a growth of 22.3 percent.
To a large extent, the increase is due to the resource-related industrial
shift from eastern regions, Zhu Baoliang, chief economist with the State
Information Center, told China Daily.
(For more biz stories, please visit Industry Updates)
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