New data from the National Information Center released today (11th) sheds light on the performance of various economic sectors, starting with infrastructure investment. In August, traditional infrastructure projects progressed steadily while investment momentum in new infrastructure and emerging industries accelerated, emerging as fresh drivers for stabilizing investment and expanding domestic demand.
Investment momentum in new infrastructure and emerging industries is quickening. The latest excavator index reveals that construction activity in August saw steady recovery, with the average equipment operation rate climbing 0.41 percentage points month-on-month. Specifically, port, concrete, and hoisting equipment operated at the busiest pace, with operation rates posting both monthly and yearly gains, signaling an acceleration in domestic construction timelines. Regionally, western China led the four major areas in construction vitality, showcasing particularly robust engineering activity.
Investment in new infrastructure and emerging sectors is also gaining steam. According to data from the National Information Center, the winning bid amount for national computing infrastructure projects in August jumped nearly 80% year-on-year, continuously solidifying the foundation of the digital economy's infrastructure. Capital investment in frontier fields such as artificial intelligence and humanoid robots surged by 101.6% year-on-year, with markets and capital rapidly converging on new tracks, and the cultivation of new quality productive forces advancing at a swift pace.
Port activity stays busy, underscoring foreign trade resilience. In August, port operations remained active, with foreign trade maintaining a stable and progressive trajectory and showcasing strong resilience. The excavator index shows that the operation rate of port equipment rose by 1.26 percentage points month-on-month and 12.42 percentage points year-on-year, reflecting sustained recovery in port cargo turnover demand and a steady uptick in foreign trade volumes. Freight data corroborates this trend, as the total departure deadweight tonnage of cargo ships from major ports grew 16.5% year-on-year, with container ship capacity up 23.4% and roll-on/roll-off vessel capacity up 141.0%, continuing the upward trend in automobile exports.
Upgraded consumption gains traction, while small street-side shops show renewed vitality. On the consumption front, offline spending growth has ticked up for two consecutive months, with upgraded goods and services improving in tandem and the scope of the consumption recovery broadening. Big data on offline consumption indicates that in August, the momentum of market recovery continued to consolidate, with total offline consumer payment amounts rising 2.6% year-on-year, an increase of 0.4 percentage points from the previous month and marking a second straight month of growth. Demand for upgraded consumer goods, travel services, and daily necessities was released in clusters, driving steady market expansion. Spending on electronics and home appliances/audio-visual equipment stood out, with year-on-year growth rates of 12.2% and 10.1%, respectively. Dining and transportation services also improved, each posting year-on-year gains exceeding 5%. Notably, the breadth of this consumption recovery is widening, extending beyond large commercial districts and major supermarkets to include smaller merchants, whose vitality continues to rebound. The physical business vitality index, gauging the health of small and medium-sized merchants, reached 83.3, up 1.7% from the prior month.
Xing Yuguan, an associate researcher at the National Information Center under the National Development and Reform Commission, commented: "In August, China's consumer market steadily warmed, new infrastructure investment maintained strong momentum, and foreign trade retained its resilience. Solid policy support, a vast domestic market, and an integrated industrial chain and supply chain edge are firm underpinnings for the Chinese economy to withstand risks and progress steadily."
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