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Iris Pang, economist at ING, notes that China’s fixed asset investment  increased by 6.1% year-on-year, year-to-date  in February, faster than the 5.9% rate in December.

Key Quotes

“Infrastructure investment  grew 4.3%YoY YTD in February, 0.5 percentage points higher than the average rate in 2018.”

“The impact of fiscal stimulus on infrastructure investment  is likely to  become even more obvious as the year goes on, and will be the main driver of economic growth in 2019. This will be particularly true  if there is no imminent agreement on a  trade deal.”