2026.04.1602:13:13UTC+00China Fixed Investment Growth Below Forecasts

China’s fixed-asset investment grew by 1.7% year-on-year in January–March 2026, below market expectations of a 1.9% increase and slightly weaker than the 1.8% rise recorded in the first two months of the year. Property investment deteriorated further, contracting by 11.2% (versus an 11.1% decline in January–February), and largely offsetting solid gains in infrastructure (up 8.9%) and manufacturing (up 4.1%) investment.

By sector, investment in the primary industry jumped 15.9%, while the secondary industry expanded by 5.8%. In contrast, investment in the tertiary industry fell by 1.0%. Excluding the property sector, overall fixed-asset investment increased by 4.8% in the first quarter. On a month-on-month basis, fixed-asset investment rose by 0.52% in March, decelerating from a 0.99% gain in February.