China's First-Quarter Mining Investments Drop 18.1% from Year Earlier

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Researched by Industrial Info Resources (Beijing, China)--China's investment in mining during first-quarter 2016 dropped 18.1% to $18.41 billion from the same period last year, according to the latest report by the National Bureau of Statistics of China. Private sector investments alone fell 7.1% to $11.41 billion, the bureau reported.

Investments in mining and washing of coal fell to $4.72 billion, a drop of 24.5% from the first quarter of last year; Extraction of petroleum and natural gas fell 40.3% to $3.77 billion; Ore mining, smelting and pressing of ferrous metals investments totaled $2.05 billion, a decrease of 18.1%; Ore mining, smelting and pressing of non-ferrous metals was $2.79 billion, an increase of 8.9%; and ore mining and processing of non-metallic minerals reached $4.47 billion, rising 6.1%.

Private sector investments in mining and washing of coal amounted to $2.96 billion, a drop of 20.2% from the same period of last year; Extraction of petroleum and natural gas was $0.25 billion, a decrease of 30%; Ore mining, smelting and pressing of ferrous metals fell 27.6% to $1.52 billion; Ore mining, smelting and pressing of non-ferrous metal reached $1.94 billion, rising 7.5%; and ore mining and processing of non-metallic minerals reached $4.29 billion, an increase of 10.4%.

During the first quarter, China's overall investment in fixed assets (excluding rural households) was $1,341.3 billion, an increase of 10.7% from the same period of last year. Within this amount, investments from the private sector were $831.21 billion, rising 5.7%.

Within different industries, investment in the primary-sector industries (agriculture, forestry, fishing, mining, oil and gas production) was $30.46 billion, an increase of 25.5% from last year; Secondary-sector industries (manufactured goods) reached $526 billion, an increase of 7.3%; and the tertiary industry sector (service) reached $784.85 billion, a rise of 12.6%.

In terms of major industries, investments in industrial manufacturing reached $433.07 billion, a jump of 6.4% compared with the same period of last year; and the supply of power, heat, gas and water reached $63.69 billion, an increase of 19.4%.

China's GDP increased 6.7% compared with the same period of last year, and increased 1.1% over the previous quarter.

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