Commentary
China’s fixed asset investment from January to October totaled 47.15 trillion yuan (about $6.78 trillion), a 5.8 percent year-on-year increase in the first 10 months of this year, according to a statement by the National Bureau of Statistics (NBS) on Nov. 15.
Furthermore, fixed asset investment from the private sector increased 1.6 percent from a year earlier to 25.84 trillion yuan (about $3.71 trillion).
At first glance, a growth rate of 5.8 percent for fixed asset investment is not alarming.
According to official data, the growth rates from 2018 to 2021 are 5.9 percent, 5.4 percent, 2.9 percent, and 4.9 percent, respectively, declining yearly. Compared with the double-digit annual growth rates that have lasted for many years, the last few years paint a different picture….