Leading Indicators in China Continued to Improve in October

According to data released by the National Development and Reform Commission's National Information Center, investment in new infrastructure and emerging industries continued to heat up in October, and the vitality of the consumer market steadily released. The national construction machinery operating rate increased by 0.7 percentage points year-on-year, with positive growth for two consecutive months, indicating an accelerated pace of construction projects. Policies continue to exert force, with major engineering projects such as the "Six Networks" advancing rapidly, driving a rebound in investment indicators and optimizing the structure. The bid amount for new infrastructure projects related to computing power and data increased by 45.4% year-on-year; capital investment in cutting-edge fields such as artificial intelligence grew more than threefold year-on-year. The consumer market steadily grew, with various consumer payment amounts in October increasing by 2.6% year-on-year, and the offline consumer vitality index rising by 1.8% year-on-year.

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