Steady investment growth, what to watch (Sharp Finance)
According to data released by the National Bureau of Statistics on the 15th, from January to November, the national fixed asset investment (excluding rural households) increased by 5.3% year-on-year.
Luo Yifei, chief statistician of the Investment Department of the National Bureau of Statistics, analyzed that in November, various regions and departments continued to promote a package of policies for stabilizing the economy and subsequent measures to fully implement and take effect, effectively play the role of policy-based developmental financial instruments, promote the construction of major projects, and accelerate equipment renewal and transformation , increase support for the private economy, and maintain steady growth in investment.
The scale of investment continues to expand
In terms of industries, the investment in the primary industry was 1,301.7 billion yuan, a year-on-year increase of 0.7%; the investment in the secondary industry was 16,620.4 billion yuan, an increase of 10.1%; the investment in the tertiary industry was 34,082.2 billion yuan, an increase of 3.2%.
Infrastructure investment continues to accelerate.
From January to November, infrastructure investment increased by 8.9% year-on-year, and the growth rate was 0.2 percentage points faster than that from January to October, picking up for seven consecutive months.
Among them, investment in water conservancy management industry increased by 14.1%, investment in public facility management industry increased by 11.6%, investment in information transmission industry increased by 8.7%, investment in ecological protection and environmental governance increased by 7.4%, investment in road transportation industry increased by 2.3%, and investment in railway transportation industry From January to October, the year-on-year decline turned into an increase of 2.1%.
According to Luo Yifei's analysis, in the first 11 months, infrastructure investment was carried out moderately ahead of schedule, the deployment of new infrastructure construction was accelerated, and weak areas were strengthened to make up for shortcomings, which strongly supported the recovery of infrastructure investment.
Manufacturing investment grew steadily.
Various aspects actively support the upgrading of equipment in key areas, promote the expansion of medium and long-term loans for the manufacturing industry, strengthen the guarantee of investment factors, and promote the rapid growth of manufacturing investment.
From January to November, manufacturing investment increased by 9.3% year-on-year, 4.0 percentage points faster than the total investment in fixed assets.
Among them, the investment in the electrical machinery and equipment manufacturing industry increased by 41.4%, the investment in the chemical raw materials and chemical products industry increased by 19.7%, and the investment in the textile and clothing industry increased by 28.1%.
At the same time, in line with the needs of economic upgrading and development, manufacturing companies have stepped up efforts to upgrade equipment to drive investment growth.
From January to November, investment in technological upgrading of manufacturing industry increased by 9.1% year-on-year, accounting for 40.9% of all manufacturing investment.
In addition, in terms of regions, the investment in the eastern region increased by 3.7% year-on-year, the investment in the central region increased by 9.4%, the investment in the western region increased by 4.8%, and the investment in the northeastern region increased by 0.9%.
In terms of registration types, the fixed asset investment of domestic-funded enterprises increased by 5.5% year-on-year, the fixed asset investment of Hong Kong, Macao and Taiwan enterprises increased by 1.0%, and the fixed asset investment of foreign-funded enterprises decreased by 3.4%.
Faster growth in key areas
With the improvement of China's economic development level, the development trend of industrial upgrading is obvious, and the investment in high-tech industries has a good growth trend.
From January to November, investment in high-tech industries increased by 19.9% year-on-year, 14.6 percentage points higher than the growth rate of all investment.
The high-tech manufacturing industry represented by electronics and medicine has developed rapidly, and related investment has increased significantly.
From January to November, investment in high-tech manufacturing increased by 23.0% year-on-year.
Among them, the investment in the electronics and communication equipment manufacturing industry increased by 28.2%, the investment in the medical equipment and instrumentation manufacturing industry increased by 28.3%, and the investment in the computer and office equipment manufacturing industry increased by 12.8%.
The in-depth implementation of the innovation-driven strategy, the increased R&D investment of enterprises, and the vigorous development of e-commerce have driven the growth of investment in related industries.
From January to November, the investment in high-tech service industry increased by 13.2% year-on-year.
Among them, investment in transformation of scientific and technological achievements increased by 26.1%, investment in e-commerce services increased by 24.4%, and investment in R&D and design services increased by 21.2%.
Investment in people's livelihood to make up for shortcomings has grown rapidly.
Focusing on making up for shortcomings and protecting people's livelihood, all aspects continue to increase investment in education, culture, medical care and other public areas.
From January to November, investment in the social sector increased by 12.5% year-on-year.
Among them, investment in health and social work increased by 27.8%, investment in education increased by 7.5%, and investment in culture, sports and entertainment increased by 4.5%.
From January to November, investment in the production and supply of electricity, heat, gas and water increased by 19.6% year-on-year, and the growth rate was 0.7 percentage points faster than that from January to October.
Among them, the investment in electricity and heat production and supply increased by 24.6%, the investment in gas production and supply increased by 10.4%, and the investment in water production and supply increased by 6.7%.
Significant support for large projects
The construction of the new Beijing-Xiongan New Area-Shangqiu high-speed railway, Guangxi Pinglu Canal and other projects has started; the first photovoltaic power station in the integrated base of scenery and water storage in the lower reaches of the Jinsha River has been completed and put into operation; Unit 11 of the Baihetan Hydropower Station has officially put into commercial operation; The construction of major scientific and technological infrastructure such as the cosmic ray observatory and the numerical simulation device of the earth system has been completed; major water conservancy projects with strategic significance, such as the South-to-North Water Diversion diversion to the Han River, the second phase of the Huaihe River into the sea, and the allocation of water resources in Guangdong around the Beibu Gulf, have started successively. From January to November, the national investment in water conservancy construction reached 1 trillion yuan for the first time...
Since the beginning of this year, several major projects have progressed smoothly, driving investment to maintain a good momentum.
According to data from the National Bureau of Statistics, from January to November, the completed investment in large projects with a planned total investment of 100 million yuan or more increased by 11.9% year-on-year, and the growth rate was 0.3 percentage points lower than that from January to October, and 6.6 percentage points higher than the total investment.
In terms of leading indicators of investment, from January to November, the planned total investment of newly started projects increased by 20.3% year-on-year, and the funds in place for investment projects (excluding real estate development investment) increased by 21.5%, providing strong support for the sustained and stable growth of investment.
The investment policy has been effective and has played a positive role.
According to data from the National Development and Reform Commission, as of the end of November, more than 2,700 projects supported by two batches of financial instruments totaling 739.9 billion yuan have all started construction; the investment in the central budget of 640 billion yuan for the year has been fully issued, and the project start rate has reached nearly 50%. The highest level in the year; the operating rate of projects that have issued special bonds this year reached 95%, and the scale of used special bonds has increased significantly compared with the same period last year.
At the same time, the approval procedures for major projects have been accelerated. As of the end of November, 106 major projects have been approved, with a total investment of about 1.5 trillion yuan.
Luo Yifei said that in the next stage, it is necessary to implement a package of policies and follow-up measures to stabilize the economy, further promote the construction of major projects and equipment renovation, make full use of fiscal and financial policy tools to support more physical workloads, and maintain stable growth in investment.
Xu Peiyu