The annual growth of fixed assets investment in China has averaged 15.6%

The National Statistical Bureau released a report on the achievements of economic and social development on the 70th anniversary of the founding of New China on September 29. The report shows that since the founding of New China 70 years ago, the national fixed assets investment has maintained a sustained and rapid growth, with an average annual growth of 15.6%. The report shows that since the founding of New China 70 years ago, the national fixed assets investment has maintained rapid growth, the scale of investment has been expanding, the investment structure has been gradually optimized and the quality of investment has been continuously improved, which has played a key role in the sustainable and healthy development of economy and society and the improvement of people's living standards.

Infrastructure and basic industry investment expanded rapidly. According to the report, from 1996 to 2018, the national transportation investment increased by 16.7% annually, and a comprehensive transportation network consisting of railways, highways, waterways and airlines was formed. At the same time, the investment effect of information industry is outstanding. By the end of 2018, the access network in China has basically realized optical fibrization. The total length of optical cable line ranks first in the world. The optical network cities in China have been built in an all-round way, and the coverage level of mobile communication network is leading in the world. The report also shows that investment in housing and real estate is growing rapidly. From 1987 to 2018, China's real estate development investment totaled 99 trillion yuan, an average annual growth of 24.8%. In 2018, the number of real estate development enterprises in China reached 97 938, an increase of 95 432 over 1987, and the construction area of houses reached 822.3 million square meters, an increase of 17.3 times over 1997. In addition, housing security projects have been vigorously promoted. Since the 18th National Congress of the Communist Party of China, the construction of affordable housing has entered the fast lane. From 2014 to 2018, a total of 29.12 million units of housing renovation in shanty towns have been started in China.