Fixed-asset investment target 'may be missed'

China may miss its fixed-asset investment growth target this year based on the performance in the first half of this year, said Bao Yujun, president of the China Private Enterprises Association.

To achieve the 18 percent annual growth target set earlier this year, fixed-asset investment should be 44 trillion yuan ($7.11 trillion) for the year, he said.

However, China's fixed-asset investment in the first half of this year only grew by 18 trillion yuan, well below the half-year requirement of 22 trillion yuan.

Of the 18 trillion yuan increase, 11 trillion yuan came from private investors. But these investors were reluctant to scale up investment in the second half of the year, he said.

According to the National Bureau of Statistics, fixed-asset investment in the first half grew by 20.1 percent to reach 18.13 trillion yuan. Private investment grew by 23.4 percent to hit 11.56 trillion yuan, contributing 63.76 percent of the total investment.