China's fixed-asset investment decline narrows

China's fixed-asset investment (FAI) went down 1.6 percent year on year during the January-July period, narrowing from the 3.1-percent decline in the first half of the year, official data showed Friday.

In the first seven months, the FAI amounted to 32.92 trillion yuan (about 4.74 trillion U.S. dollars), according to the National Bureau of Statistics (NBS).

Investment by the state sector went up 3.8 percent during the period, while private-sector investment fell 5.7 percent, with a drop down of 1.6 percentage points from that in the first half of the year.

Investment in the primary industry went up 7.7 percent, while that in the secondary fell 7.4 percent. Investment in the tertiary industry edged up 0.8 percent.

Meanwhile, investment in high-tech manufacturing and services surged 7.4 percent and 9.1 percent year on year, respectively.

In July, FAI rose 4.85 percent from June.

The FAI includes capital spent on infrastructure, property, machinery and other physical assets.

The figures are part of a series of indicators released by the NBS, including industrial production and retail sales, which showed the economy on a recovery track amid effective epidemic control.