China’s fixed-asset investment decreased by 1.6% year-on-year in the January–April 2026 period, against market expectations of a 1.6% increase and reversing a 1.7% rise in the first quarter. Property investment continued to decline (-13.7% vs -11.2% in January–March), while smaller increases were also recorded in infrastructure (4.3% vs 8.9%) and manufacturing (1.2% vs 4.1%) investment. Among industries, investment growth slowed in the primary industry (10.1% vs 15.9%) and the secondary sector (2.5% vs 5.8%), while investment in the tertiary sector fell further (-4.2% vs -1.0%). Excluding the property sector, fixed-asset investment rose by 1.3% in the first four months, slowing sharply from the 4.8% growth in the first quarter. On a monthly basis, fixed-asset investment dropped by 2.36% in April, following a 0.58% fall in March.