Chinese manufacturers are investing more in factories, despite a slowdown in production due to the US trade dispute, but investments are geared toward developing the high-tech sector, according to Michelle Lam, economist at Societe Generale in Hong Kong. The upgrade to manufacturing higher valued goods is evidenced by increased imports for semiconductors, which meets half the world’s demand, Lam said. Manufacturing growth slowed to over 7% in the nine months to September, compared to 6.7% the same time last year, while fixed-asset investment rose 8.7%, according to the National Bureau of Statistics.
Chinese manufacturers are investing more in factories, despite a slowdown in production due to the US trade dispute, but investments are geared toward developing the high-tech sector, according to Michelle Lam, economist at Societe Generale in Hong Kong. The upgrade to manufacturing higher valued goods is evidenced by increased imports for semiconductors, which meets half the world’s demand, Lam said. Manufacturing growth slowed to 6.7% in the nine months to September, compared to over 7% the same time last year, while fixed-asset investment rose 8.7%, according to the National Bureau of Statistics.