For a start, investment in fixed assets is practically flat.
Investments in fixed assets have increased more slowly this year than in any year since 2001.
But investments in fixed assets like roads, factories and apartment buildings set a record in the opposite direction.
Exports will be constrained by depressed Western markets, and investments in fixed assets will produce diminishing returns.
Even though investment as a proportion of GDP is high, China's accumulated investment in fixed assets is still low.
The country's firms' investment in fixed assets was up by a cracking 35%, year-on-year, in June.
Last year, investments in fixed assets like factories and real estate soared 26percenttoto $662 billion, and bank loans jumped 21percentt.
The NBS's director, Li Deshui, said the growth of investment in fixed assets, such as factories, equipment, property and infrastructure, had "clearly come under control".
The central government is trying to put the brakes on investment in fixed assets as a way of preventing the economy from overheating.
Investment in fixed assets was 33.5% higher in the first half of this year than a year earlier, reflecting the results of the government's massive fiscal stimulus.
In the first three quarters of the year, state investment in fixed assets rose by 18.2%, while private-sector investment rose by less than 8%.
