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After a disappointing performance in 2018, China’s economy appears to be stabiliz
ing. In the first quarter of 2019, GDP growth, at 6.4 percent year-on-year, matched that of the previous quarter. But grow
th in industrial production exceeded expectations, expanding by 6.5 percent year-on-year (and by 8.5 percent in Mar
ch). Even exports growth was positive, albeit weak, despite the ongoing trade frictions with the United States.
Moreover, fixed-asset investment (FAI) grew by 6.3 percent－0.2 percentage points higher than in the previous quar
ter. Investment in real estate grew the fastest (11.8 percent), followed by manufacturing (4.6 percent) and in
frastructure (4.4 percent). The growth of investment both in real estate and infrastru
cture was stronger not only sequentially, but also year-on-year. As usual, consumption growth was stable.
Lagos–Kano standard gauge project, the first standard gauge railway in Nigeria and West A
frica, was officially inaugurated and started commercial operation on July 26, 2016.
The railway, constructed by China Civil Engineering Construction Corporation, is the first overseas railway fully adopting the Chinese r
ailway standard. Spanning 186.5 kilometers, it alleviates traffic tension, improves the investment envir
onment and promotes the coordinated development of regional economy and society.
By Jan 11, the train service had delivered 1.23 million passengers and had safely operated for 900 days without any major accident recorded since its inception.
The China-funded Colombo Port City, the largest project between C
hina and Sri Lanka under the Belt and Road Initiative, completed land reclamation of 269 hectares in January.
In addition, hydro-structure construction will be completed by the middle
of this year. The port city’s municipal facilities construction is expected to be completed in J
uly 2020. At the same time, investment promotion of the city is also being carried out.