China's fixed-assets investment booms over decade

BEIJING - China's fixed-assets investment has maintained a fast growth pace over the past decade, according to a report released by the National Bureau of Statistics on Thursday.

Reviewing the development of the country's fixed-assets investment since the 16th National Congress of the Communist Party of China in 2002, the report said that annual investment in 2011 hit 31.1 trillion yuan ($4.91 trillion), seven times more than the 2002 figure of 4.35 trillion yuan.

Accumulatively, fixed assets investment during the 2003-2011 period amounted to 144.9 trillion yuan, marking an annual growth rate of 25.6 percent, said the report, adding that the fixed assets investment structure had been improved.

The NBS attributed the fast growth in investment to further coordinated regional development, optimized industrial investments and active private investments.

The following are key facts and figures from the report.

-- Fixed assets investment totalled 31.19 trillion yuan in China's west during the 2003-2011 period, marking an average growth pace of 27.5 percent annually. The western region covers 12 provinces or autonomous regions, including Inner Mongolia autonomous region, Guangxi Zhuang autonomous region and Chongqing municipality.

-- Meanwhile, fixed assets investment in the country's northeast reached 14.78 trillion yuan, with its average year-on-year expansion of 30.4 the highest growth pace among all regions. The northeast region includes Liaoning, Jilin and Heilongjiang provinces.

-- During the 2003 to 2011 period, fixed assets investment in six provinces in the central area amounted to 30.7 trillion yuan, with an average growth rate of 29.8 percent year-on-year.

-- Fixed assets investment in the said period increased 22.8 percent year-on-year on average to 65.2 trillion yuan totally in the country's most developed eastern region, which covers 10 provinces or municipalities, including Beijing and Shanghai as well as Guangdong, Shandong and Zhejiang provinces. However, the proportion of the east region's total investment nationwide decreased 10 percentage points from 2002 to 41.9 percent in 2011.

-- From 2003 to 2011, China's primary industries, secondary industry and tertiary industry witnessed an average annual growth of 21.8 percent, 30.3 percent and 22.8 percent to reach 4.06 trillion yuan, 62.24 trillion yuan and 78.57 trillion yuan separately.

-- Investments in real estate development in China during the 2003-2011 period totalled 26.14 trillion yuan, marking a 25.8-percent growth year-on-year on average. The investment in real estate in 2011 alone hit 6.17 trillion yuan, accounting for 19.9 percent of the total fixed assets investment of the year, which is 2 percentage points higher than the proportion in 2002.

-- Private investments picked up speed from 2007 onward, driven by government policies. In 2011, private investments account for 60.3 percent of the country's annual total fixed assets investments. The proportion is 7.8 percentage points higher than that of 2007.