Total Output Value of Construction Industry Tops 19.3567 Trillion Yuan

The National Bureau of Statistics recently released national economic data for 2016. The gross domestic product stood at 74.4127 trillion yuan, a year-on-year increase of 6.7%. The total output value of the national construction industry reached 19.3567 trillion yuan, growing by 7.1% year on year. The growth of fixed-asset investment slowed down with a year-on-year rise of 8.1%, while private investment remained sluggish, edging up only 3.2%.


Rebound in Growth of Construction Industry Output Value


In 2016, the total output value of China's construction industry hit 19.3567 trillion yuan, up 7.1% year on year with a mild growth rebound. The floor space of buildings under construction nationwide amounted to 12.64 billion square meters, a year-on-year increase of 2.0%. The total planned investment in newly-started projects throughout the year reached 49.3295 trillion yuan, rising 20.9% year on year.


Continuous Slowdown in Fixed-asset Investment Growth


Fixed-asset investment (excluding rural households) nationwide totaled 59.6501 trillion yuan in 2016, registering a nominal year-on-year growth of 8.1% and an actual growth of 8.8% after adjusting for price factors. The growth rate dropped by 0.2 percentage points compared with the January-November period. Month-on-month fixed-asset investment (excluding rural households) climbed 0.53% in December.


Infrastructure Investment Maintains High Level Yet Growth Slacks Off


Infrastructure investment (excluding production and supply of electric power, heat power, gas and water) stood at 11.8878 trillion yuan, growing 17.4% year on year, down 1.5 percentage points from the January-November reading. Investment in water conservancy management rose 20.4%, up 0.2 percentage points. Investment in public facilities management increased by 22.9%, down 0.6 percentage points. Road transportation investment gained 15.1%, a drop of 1.8 percentage points. Railway transportation investment dipped 0.2%, contrasting with a 5.0% rise seen in January-November.


Nominal Growth of Private Fixed-asset Investment Stands at 3.2%


Private fixed-asset investment reached 36.5219 trillion yuan in 2016, with a nominal year-on-year growth of 3.2% and an actual growth of 3.8% after price adjustment. The growth rate picked up 0.1 percentage point from January to November. Private investment accounted for 61.2% of total fixed-asset investment excluding rural households, down 0.3 percentage point month-on-month and 3 percentage points year on year.