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China’s fixed-asset investment rose 1.8% in January–February 2026, defying market expectations of a 0.4% decline. This followed a 3.8% drop in 2025, the first annual fall since 1989. Infrastructure investment increased by 11.4% and manufacturing investment grew by 3.1%, more than offsetting an 11.1% contraction in property investment. By sector, investment in the primary industry jumped 17.4% and in the secondary industry climbed 5.4%, while investment in the tertiary industry slipped 0.4%. On a monthly basis, fixed-asset investment rose 0.4% in February, marking a second consecutive month of growth but slowing from a 1.3% gain in January.
