In the first nine months, the total caliber of fixed investment was -11% year-on-year! Cement demand continues to come under pressure

On October 18, the National Bureau of Statistics released data that in the first three quarters of this year, the national fixed assets investment (excluding farmers) was 37503.5 billion yuan, an increase of 3.1% over the same period last year. The growth rate of investment in fixed assets is calculated on a comparable basis.

According to the data released by the National Bureau of Statistics, in the first three quarters of 2022, China's fixed assets investment (excluding farmers) was 42141.2 billion yuan, while this year's data was 37503.5 billion yuan, a decrease of about 11% compared with the same period last year. Moreover, in the past five years, the overall investment in fixed assets in China has shown a downward trend.

(Data source: National Bureau of Statistics)

Fixed asset investment is the key to stimulating cement demand, among which real estate investment is crucial. According to the data of the National Bureau of Statistics, the investment in real estate development in the first three quarters of this year was 8726.9 billion yuan, down 9.1%. Since the beginning

of this year, due to the decline in the growth rate of real estate investment, the domestic demand for cement has been insufficient, and the market has been cold for a long time. Under the general trend of declining investment in fixed assets, the demand for cement may be in a long-term downturn.