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China's Fixed Asset Investment Drops 1.6% in April, Reversing Q1 Growth

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China's fixed asset investment dropped 1.6% year on year to 14.1 trillion yuan between January and April, excluding rural households, according to Monday data from the National Bureau of Statistics.

The latest print was in line with market expectations and reversed a 1.7% rise in the first quarter.

Industrial investment rose 2.5% in the January-April period, with mining investment recording the biggest increase with a 11.1% jump from a year earlier.

Meanwhile, infrastructure investment during the month climbed 4.3%, with water transport investment jumping the highest with a 28.4% climb, followed by air transport investment, which rose 27.3%.

The country's private fixed asset investment between January and April declined 5.2% year on year.

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