China's Private Fixed Asset Investment Growth Takes Over The Lead ...

Interestingly, but private urban fixed asset investment GROWTH RATE in China outpaces the one at SOEs and state-controlled enterprises now.

Christopher Wood, the strategist at CLSA Asia-Pacific Markets, wrote in the latest "Greed & fear":

For now GREED & fear agrees with the view of CLSA’s China macro strategist, Andy Rothman, that recent policy moves in China have been more a case of reducing easing rather than actual tightening. The distinction may sound a matter of semantics. But in GREED & fear’s view it is an important one in a policy driven market like China’s. Meanwhile, the latest data highlights that a private sector investment cycle is gaining traction. Thus, investment by China’s privately-owned companies has grown faster in September than investment by state-owned enterprises (SOEs) for the first time in a year... Urban fixed asset investment by private firms rose by 37% YoY in September, up from 30% YoY in August and the fastest pace since November 2007. While SOE investment rose by 33% YoY in September, down from 38% in August.

Well, it is only the growth rate ...

Click on chart to enlarge, courtesy of CLSA Asia-Pacific Markets.