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NBS: China Jan-Feb FAI down 24.5%, property down 16.3%

China’s fixed asset investment (FAI) had been hit hard by the outbreak of COVID-19 across the country over the first two months, having plunged 24.5% on year, or a free fall from the 5.4% year-on-year growth for the whole 2019, and the FAI in the property market also plummeted 16.3% on year, according to the latest statistics from the country’s National Bureau of Statistics (NBS) on March 16.
Of thetotal Yuan 3.33 trillion ($476 billion) FAI, the fund from non-state-owned enterprises recorded declined more sharply by 26.4% on year to Yuan 1.89 trillion, and for different industries, that in the industrial sector slumped the most by 28.2% on year to Yuan 915.8 billion, among which the funding in

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