China’s fixed-asset investment rose 3.4% year on year in the first eight months of 2024, data from the National Bureau of Statistics (NBS) showed. Investment totaled 32.94 trillion yuan (about US$ 4.64 trillion) during this period, the NBS said in a statement.

Manufacturing investment increased 9.1% year on year. In particular, investment in the textile industry posted robust growth, up 13.5% in the period.

China will continue to boost effective investment by promoting major projects, industrial upgrades, and equipment renewals, said Liu, adding that more investment is needed to upgrade new industries, promote low-carbon transformation, and improve weak areas of the economy.

Source: CHINA TEXTILE LEADER Express