In China, urban investment in fixed assets is one of the main measures of capital spending. It refers to investment in construction projects with a total planned investment of 5 million yuan; machinery and equipment and real estate development in both urban and rural areas. It refers to investment made by state-owned enterprises and private businesses, institutions or individuals.
A higher than expected figure should be seen as positive (bullish) for the CNY while a lower than expected figure should be seen as negative (bearish) for the CNY.