China’s construction growth flattens out in October
Investment in all construction projects totaled 102 trillion yuan for the first 10 months this year,
Construction growth across China is flatlining, according to a report by the country’s planning agency, the National Development and Reform Commission, which showed no change between the October and September figures.
The commission said that total investment in all construction projects totaled at 102 trillion yuan (US$14.79 trillion) for the first 10 months this year, but there was no change in the pace of growth over the last two months.
Meanwhile, the pace of growth of new construction projects in October dropped 0.8% compared to the previous month. For the first 10 months the pace of growth was 21.8% compared to the same period last year. This was a decrease from 22.6% growth year on year over the first nine months.
The eastern region of China which comprises the more well-off coastal provinces saw the most number of new construction projects this year, with 190,436 to the end of October.