China's Fixed Asset Investment Falls 6.7% in Jan-July 2026

Data released by the National Bureau of Statistics show that in the first seven months of 2026, fixed asset investment (excluding rural households) totaled RMB 26.0328 trillion, down 6.7% year on year on a comparable basis. Among this, investment in intellectual property products increased 9.1%. Excluding real estate development investment, fixed asset investment fell 3.7% year on year.

By industry, investment in the primary sector reached RMB 532.9 billion, down 0.5% year on year; the secondary sector saw investment of RMB 9.7709 trillion, down 2.1%; and the tertiary sector recorded investment of RMB 15.729 trillion, down 9.5%. Industrial investment declined 2.1% year on year, with mining investment up 3.3%, manufacturing investment down 1.7%, and investment in the production and supply of electricity, heat, gas, and water down 5.3%.

By sector, infrastructure investment fell 3.6% year on year, with information transmission investment up 26.0%, water transport investment up 16.2%, and air transport investment up 15.7%. Real estate development investment declined 19.2% year on year. In July, fixed asset investment (excluding rural households) fell 1.42% month on month.