(Yicai Global) Oct. 19 -- China's fixed asset investment turned positive for the first time this year as the nation hit the gas on investment to overcome the impact of the coronavirus pandemic

Investment in fixed assets was CNY43.65 trillion for the first nine months, up 0.8 percent from a year ago, in line with analysts’ expectations, data National Bureau of Statistics published today show.

It is the first positive growth rate recorded since the outbreak of the pandemic. Data was down 0.3 percent in the first eight months.

A Yicai Global survey of 22 chief economists at major Chinese financial institutions found they predicted, on average, that first-three quarter fixed asset investment would rebound by up 0.78 percent.

Editor: Ben Armour