China's fixed-asset investment increased by 5.9 percent from a year earlier in the full year of 2018, unchanged from the first eleven months of the year and below market expectations of 6.0 percent. Private-sector fixed-asset investment growth was steady at 8.7 percent while public-sector fixed-asset investment growth eased to 1.9 percent from 2.3 percent in January-November. By sector, investment growth accelerated for agriculture, forestry, animal husbandry, and fishery (12.3 percent vs 11.4 percent); water conservancy, environment and public facilities management (3.3 percent vs 2.4 percent) while fixed investment of manufacturing was unchanged (at 9.5 percent). Meantime, fixed investment growth slowed for transport, storage and postal industry (3.9 percent vs 4.5 percent); and mining (4.1 percent vs 8.6 percent). On the other hand, spending on power continued to fall (-6.7 percent vs -8.8 percent). Fixed Asset Investment in China averaged 19.94 percent from 1996 until 2018, reaching an all time high of 53 percent in February of 2004 and a record low of 5.30 percent in August of 2018.
Fixed Asset Investment in China is expected to be 6.40 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Fixed Asset Investment in China to stand at 6.40 in 12 months time. In the long-term, the China Fixed Asset Investment is projected to trend around 6.20 percent in 2020, according to our econometric models.