China's National Bureau of Statistics spokesperson and chief economist Fu
Linghui said on June 16 that the widened slowdown in investment growth in
January–May reflected both weather disruptions in some regions (high
temperatures and heavy rain) and a structural shift from quantity to quality as
the economic transitions to new growth drivers. He said policy support,
innovation-led measures and stronger social-welfare spending have continued to
improve investment composition: infrastructure investment is growing steadily,
investment in emerging industries is expanding rapidly, and livelihood-related
investment is strengthening. Fu said investment space remains ample—new
urbanization, rural revitalization, development of new productive forces and
public-service upgrades will require funding—and called for government
investment to guide and catalyze private capital, closer integration of
investment in physical assets and human capital, and greater focus on optimizing
investment structure and efficiency to support high-quality growth.
