Chinese Investment in steel sector drops sharply

People’s Daily Online

Fixed asset investment in China’s steel sector, the biggest in the world, tumbled in the first quarter of this year as a result of the State’s macro economic controls, an industry organization said yesterday.

The steel sector’s fixed asset investment [was] down 1.4 per cent from the same period of last year, according to statistics from the China Iron and Steel Association.

This is in sharp contrast to the staggering growth of 106.4 per cent in fixed asset investment in the steel sector in the first quarter of last year.

The steel sector was the only one of China’s main industrial sectors to experience a fixed asset investment decline from January to March this year, said officials from the steel association.

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