STATS: China's fixed investment in mining is putting the rest of the world to shame
According to the National Bureau of Statistics of China the country's fixed-asset investment in the mining industry reached $211 billion (CNY 1,312.9 billion) in 2012, an increase of 11.8% over 2011.
Fixed-asset investment in coal mining – China is the world's number one producer and importer of the commodity – was up 7.7% year on year to $85 billion.
Capital expenditure in the ferrous metal mining industry raced ahead 23.7% last year to $24.6 billion.
This figure is in contrast to a 2% contraction in the steelmaking industry – the only sector in the country showing a decline in fixed asset investment.
The growth in steelmaking raw material projects were only outpaced by an increase in non-metal mining of 26.3% to $26.2 billion.
Investment in nonferrous metals mining in 2012 also experienced robust growth – up 19% to $23.7 billion.