China's economic, social progress in 2023: Investment in fixed assets up by 3 pct

The year 2023 was the first year to fully implement the guiding principles of the 20th National Congress of the Communist Party of China and a year for economic recovery and development following three years of COVID-19 prevention and control. China has taken solid strides in building a modern socialist country in all respects.

In 2023, China’s investment in fixed assets (excluding rural households) in 2023 was 50,303.6 billion yuan, up by 3.0 percent. From the perspective of industries, the investment in the primary industry was 1,008.5 billion yuan, down by 0.1 percent over the previous year; that in the secondary industry was 16,213.6 billion yuan, up by 9.0 percent; and that in the tertiary industry was 33,081.5 billion yuan, up by 0.4 percent. Notably, sectors such as production and supply of electricity, heat power, gas, and water, construction, and scientific research and technical services exhibited the most substantial growth rates, with increases of 23%, 22.5%, and 18.1% respectively.