NBS: China Q1 FAI decline narrows to 16.1% on year
Apr 17, 2020 12:00
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China’s fixed asset investment (FAI) plummeted 16.1% on year for the first quarter of 2020 to Yuan 8.4 trillion ($1.2 trillion), though the decline narrowed from the 24.5% year-on-year decrease for January-February, suggesting the country had been recovering from the COVID-19 starting March, according to the latest statistics from the National Bureau of Statistics on April 17.
For March alone, the country’s FAI grew 6.1% from February, according to the NBS statistics.
Of the total, the funding from the non-state-owned enterprises recorded a 18.8% on-year plunge to Yuan 4.8 trillion for the first quarter, with the decline also narrowedfrom 26.4% annual decline for January-February, according to the data.