Recently, the National Bureau of Statistics released fixed assets investment data from January to July 2023. According to statistics, from January to July, the national fixed assets investment (excluding farmers) was 28589.8 billion yuan, up 3.4% year on year. Among them, private fixed assets investment was 14943.6 billion yuan, down 0.5% year on year. On a month on month basis, fixed assets investment (excluding farmers) fell by 0.02% in July.
Investment in manufacturing and high-tech industries continued to grow from January to July. Investment in the manufacturing industry increased by 5.7% year on year, 2.3 percentage points higher than the total fixed assets investment. Among them, investment in instrument manufacturing industry increased by 21.9%, ranking second in the manufacturing industry. The growth rate of investment is only second to that of electrical machinery and equipment manufacturing industry.
The high-tech industry, as an important driving force for optimizing and adjusting China's industrial structure, has maintained a fast development speed with strong government support. Therefore, the prospects for industrial development are highly optimistic, and the investment scale has been expanding at a fast pace. From January to July, the investment in high-tech industries increased by 11.5% year on year, 8.1 percentage points higher than the total fixed assets investment. The investment in high-tech manufacturing increased by 11.5% year-on-year, with a growth rate 5.8 percentage points higher than the investment in manufacturing. Among them, investment in medical equipment and instrument manufacturing increased by 16.0%. The investment in high-tech service industry increased by 11.6% year-on-year, with a growth rate 10.4 percentage points higher than that in service industry investment. Among them, the investment in technology achievement transformation service industry increased by 44.9%.
In the first half of 2023, investment in the manufacturing industry increased by 6.0% year-on-year, and investment in the instrument and meter manufacturing industry increased by 24.1%; Investment in high-tech manufacturing increased by 11.8% year-on-year, while investment in medical equipment and instrument manufacturing increased by 16.8%. The data is slightly higher than from January to July, indicating a slight slowdown in the investment growth rate of the instrument manufacturing industry in July.
It is understood that in the next stage, China will focus on the primary task of high-quality development, coordinate the upgrading and transformation of traditional industries and the cultivation and growth of emerging industries, accelerate the construction of major and new infrastructure, effectively stimulate the vitality of private investment, continuously enhance the key role of investment in optimizing the supply structure, and promote sustained and healthy economic and social development. The instrument manufacturing industry, as a part of the high-tech industry, will also receive support. It is expected that the investment scale in the instrument manufacturing industry will continue to maintain a high growth rate in the coming months.
