China’s Fixed-Asset Investment (FAI) went up 10.3 percent year on year in the first seven months of this year, data from the National Bureau of Statistics (NBS) showed Monday.

According to the NBS, during the January to July period, the FAI amounted to 30.25 trillion yuan (about 4.67 trillion U.S. dollars).

Compared with the 2019 level, the FAI growth came in at 8.7 percent for the period, while the average January-July growth rate in the recent two years stood at 4.3 percent.

NBS data showed that the investment by the private sector rose to 13.4 percent to 17.35 trillion yuan in the first seven months.

On a month-on-month basis, FAI gained 0.18 percent in July.

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Investment in the primary industry increased 21.8 percent year on year in the first seven months, with that in the secondary industry rising 14.4 percent and that in the tertiary industry climbing 8.2 percent.

NBS data showed that specifically, investment in manufacturing and infrastructure gained 17.3 percent and 4.6 percent year on year, respectively.

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