Found another closing discrepancy in reported numbers.
These were the reported numbers for fixed asset investments (excl. rural) between 2020 and 2024.
The 2023 number has the biggest difference. If you directly compare 503,036 and 572,138, that’s dropping -12% yoy. Yet, the reported yoy was +3%.
This resulted in a 15% gap in yoy percentage number for 2023.
That gap has been shrinking to less than 1% in 2024, with +3.2% reported for 2024 fixed investments, compared with +2.3% in calculated comparison.
In 2024, the investment in the water conservancy management industry increased by 41.7%, investment in the air transportation industry increased by 20.7%, and investment in the railway transportation industry increased by 13.5%.
Those are some big % numbers. If you compare some headline numbers, e.g. water conservancy, the growth should be 13%, rather than 42%.
- 2023年全年完成水利建设投资11996亿元
- 2024年完成水利建设投资13529亿元
Maybe 2023 was indeed a lower base than reported.
Anyways, the picture in 2024 indeed looks better.