China's Guangdong province's fixed asset investment fell 3.9% year-on-year in January-October - Chinese media

According to a recent release from the Guangdong provincial government, fixed asset investment in the province in the first 10 months of the year fell 3.9% year-on-year, but increased 2.7% if real estate development investment is excluded.
Thanks to the large-scale promotion of equipment renewal, investment in equipment purchases increased by 18.6%, of which investment in industrial equipment increased by 19.6%.
Industrial investment grew by 8.1 percent, accounting for 36.8 percent of total fixed asset investment. Investment in advanced and high-tech manufacturing rose 1.2 percent.
Exports of integrated circuits rose 62.2%, telecommunications terminal equipment rose 37.3%, and new energy vehicles rose 24.3%.
On the other hand, infrastructure investment decreased by 0.7%. Of this, the railway transportation industry increased by 18.8%, the electricity and thermal energy production and supply industry increased by 4.3%, and the ecological conservation industry increased by 1.2%.
The protection and environmental management industry increased by 5.2%. Real estate development investment also decreased by 17.3%.