Group 1 - In January 2026, the national industrial producer price index (PPI) for factory prices decreased by 1.4% year-on-year, with the decline narrowing by 0.5 percentage points compared to the previous month; month-on-month, it increased by 0.4%, with the increase expanding by 0.2 percentage points from the previous month [1][10] - The prices of production materials decreased by 1.3% year-on-year, contributing approximately 1.06 percentage points to the overall decline in factory prices; the mining industry saw a price drop of 8.1%, raw materials prices fell by 2.0%, and processing industry prices decreased by 0.4% [4][9] - The prices of living materials decreased by 1.7% year-on-year, impacting the overall factory price level by about 0.38 percentage points; food prices fell by 1.9%, clothing prices decreased by 0.7%, and prices for general daily necessities and durable consumer goods both dropped by 1.8% [4][9] Group 2 - In January, the industrial producer purchase price index (PPPI) showed a year-on-year decrease of 1.4%, with a month-on-month increase of 0.5%; fuel and power prices fell by 7.1%, while prices for non-ferrous metals and wires increased by 16.1% [7][11] - The prices of production materials increased by 0.5% month-on-month, contributing approximately 0.37 percentage points to the overall increase in factory prices; mining prices decreased by 1.7%, while raw materials prices rose by 0.7% and processing prices increased by 0.5% [8][9] - The prices of living materials increased by 0.1% month-on-month, with food prices decreasing by 0.1% and clothing prices dropping by 0.3%, while durable consumer goods prices rose by 0.3% [8][9]

Core Viewpoint - In January 2026, the national consumer price index (CPI) increased by 0.2% year-on-year, with urban areas rising by 0.2% and rural areas by 0.1% [1][9]. Price Changes Year-on-Year - The prices of food, tobacco, and dining out decreased by 0.2%, contributing to a 0.06 percentage point decline in CPI [3]. - Within food, egg prices fell by 9.2%, impacting CPI by a decrease of approximately 0.05 percentage points; pork prices dropped by 13.7%, affecting CPI by a decrease of about 0.28 percentage points [3]. - Fresh vegetables saw a price increase of 6.9%, contributing approximately 0.12 percentage points to CPI, while fresh fruits rose by 3.2%, adding about 0.06 percentage points [3]. - Other categories showed mixed results, with significant increases in other goods and services (13.2%) and living goods and services (2.6%), while transportation and communication prices fell by 3.4% and housing prices by 0.1% [3]. Price Changes Month-on-Month - In January, the prices of food, tobacco, and dining out remained stable [6]. - Egg prices increased by 2.7%, contributing approximately 0.01 percentage points to CPI; fresh fruit prices rose by 2.0%, adding about 0.04 percentage points [6]. - Fresh vegetables experienced a significant decline of 4.8%, impacting CPI by a decrease of approximately 0.10 percentage points [6]. - Other categories showed five increases, one stable, and one decrease, with other goods and services rising by 2.7% and living goods and services by 0.9% [6]. Summary of Key Data - CPI increased by 0.2% month-on-month and year-on-year, with urban and rural areas showing similar trends [9]. - Food prices remained unchanged month-on-month but decreased by 0.7% year-on-year, while non-food prices increased by 0.2% month-on-month and 0.4% year-on-year [9][10]. - The CPI excluding food and energy rose by 0.3% month-on-month and 0.8% year-on-year [10].

| 指 标 名 称 | 单位 | 本月止累计 | 去年同期 | 增长(增加)% | | --- | --- | --- | --- | --- | | 主要财务指标 | | | | | | 企业数量 | 个 | 5234 | 5181 | 23 | | 应收账款 | 亿元 | 4907. 6 | 4915. 1 | -0.2 | | 产成品 | 亿元 | 823.5 | 800. 0 | 2.9 | | 流动资产平均余额 | 亿元 | 33871.7 | 33715. 3 | 0.5 | | 资产合计 | 亿元 | 79174. 9 | 77699. 6 | 1.9 | | 负债合计 | 亿元 | 48296. 8 | 46691. 0 | 3.4 | | 营业收入 | 亿元 | 26088. 6 | 31743.8 | -17.8 | | 营业成本 | 亿元 | 18734.0 | 21258. 5 | -11.9 | | 销售费用 | 亿元 | 355. 9 | 397.7 | -10.5 | | 管理费用 | 亿元 | 1752. 1 | 1936. 7 | -9.5 | | 财务费用 | 亿元 | 5 ...

Core Viewpoint - The monitoring of prices for 50 important production materials across nine categories in the national circulation market indicates mixed trends in price changes for January 2026, with 25 products experiencing price increases, 21 seeing decreases, and 4 remaining stable [1] Price Changes Summary - Among the monitored products, the price of live pigs (external three yuan) is reported at 12.7 yuan per kilogram, reflecting a month-on-month decrease of 1.6% [1]

Group 1 - The core finding indicates that in late January 2026, compared to mid-January, 25 out of 50 monitored important production materials saw price increases, while 21 experienced declines, and 4 remained stable [1] - Cotton prices (specifically, grade three cotton) reached 15,228.9 yuan per ton, reflecting an increase of 28.5 yuan per ton, which corresponds to a growth rate of 0.2% [1]

据对全国流通领域9大类50种重要生产资料市场价格的监测显示，2026年1月下旬与1月中旬相比，25种 产品价格上涨，21种下降，4种持平。 2026年1月下旬流通领域重要生产资料市场价格变动情况 中国统计信息服务中心 卓创资讯 3.监测范围 监测范围涵盖全国31个省（区、市）300多个交易市场的近2000家批发商、代理商、经销商等经营企 业。 | 产品名称 | 单位 | 本期价格 | 比上期 价格涨跌 | 涨跌幅 | | --- | --- | --- | --- | --- | | | | （元） | | (%) | | | | | （元） | | | 一、黑色金属 | | | | | | 螺纹钢（Φ20mm，HRB400E） | 吨 | 3179.5 | -23.0 | -0.7 | | 线材（Φ8—10mm，HPB300） | 吨 | 3370.8 | -27.3 | -0.8 | | 普通中板（20mm，Q235） | 吨 | 3334.0 | -9.1 | -0.3 | | 热轧普通板卷（4.75—11.5mm，Q235） | 吨 | 3272.8 | -12.3 | -0.4 | | 无缝钢管（2 ...

一、中国制造业采购经理指数运行情况 原材料库存指数为47.4%，比上月下降0.4个百分点，表明制造业主要原材料库存量继续减少。 从业人员指数为48.1%，比上月下降0.1个百分点，表明制造业企业用工景气度略有回落。 1月份，制造业采购经理指数(PMI)为49.3%，比上月下降0.8个百分点，制造业景气水平有所回落。 从企业规模看，大型企业PMI为50.3%，比上月下降0.5个百分点，仍高于临界点；中、小型企业PMI分 别为48.7%和47.4%，比上月下降1.1个和1.2个百分点，低于临界点。 从分类指数看，在构成制造业PMI的5个分类指数中，生产指数和供应商配送时间指数均高于临界点， 新订单指数、原材料库存指数和从业人员指数均低于临界点。 生产指数为50.6%，比上月下降1.1个百分点，仍高于临界点，表明制造业生产活动保持扩张。 新订单指数为49.2%，比上月下降1.6个百分点，表明制造业市场需求有所放缓。 三、中国综合PMI产出指数运行情况 供应商配送时间指数为50.1%，比上月下降0.1个百分点，仍高于临界点，表明制造业原材料供应商交 货时间持续加快。 二、中国非制造业采购经理指数运行情况 1月份，非制 ...

1月份，部分制造业行业进入传统淡季，加之市场有效需求仍显不足，制造业PMI为49.3%，景气水平较 上月下降。 （一）企业生产继续扩张。生产指数为50.6%，高于临界点，制造业生产保持扩张；新订单指数为 49.2%，市场需求有所回落。从行业看，农副食品加工、铁路船舶航空航天设备等行业生产指数和新订 单指数均高于56.0%，产需释放较快；石油煤炭及其他燃料加工、汽车等行业两个指数均低于临界点， 相关行业市场需求放缓，企业生产有所回落。 2026年1月31日国家统计局服务业调查中心和中国物流与采购联合会发布了中国采购经理指数。对此， 国家统计局服务业调查中心首席统计师霍丽慧进行了解读。 1月份，制造业采购经理指数、非制造业商务活动指数和综合PMI产出指数分别为49.3%、49.4%和 49.8%，比上月下降0.8个、0.8个和0.9个百分点，经济景气水平有所回落。 一、制造业采购经理指数有所下降，生产继续保持扩张 （四）高技术制造业持续领跑。高技术制造业PMI为52.0%，连续两个月位于52.0%及以上较高水平，相 关行业发展态势持续向好。装备制造业PMI为50.1%，保持在扩张区间。消费品行业和高耗能行业PMI ...

Core Insights - The Ministry of Finance released data indicating that in 2025, the national general public budget revenue is projected to reach 21.6 trillion yuan, a decrease of 1.7% compared to the previous year [1] - Tax revenue is estimated at approximately 17.6 trillion yuan, reflecting a growth of 0.8% [1] Tax Revenue Breakdown - In 2025, domestic value-added tax is expected to generate 6.89 trillion yuan, an increase of 3.4% [1] - Domestic consumption tax is projected at 1.69 trillion yuan, with a growth of 2% [1] - Corporate income tax is anticipated to reach 4.13 trillion yuan, showing a growth of 1% [1] - Personal income tax is forecasted to be 1.62 trillion yuan, marking a significant increase of 11.5% [1] Personal Income Growth - The high growth rate of personal income tax is closely linked to the steady increase in residents' income, with the per capita disposable income expected to be 43,400 yuan in 2025, reflecting a nominal growth of 5% compared to the previous year [1]

一、中国制造业采购经理指数运行情况 1月份，制造业采购经理指数（PMI）为49.3%，比上月下降0.8个百分点，制造业景气水平有所回落。 从企业规模看，大型企业PMI为50.3%，比上月下降0.5个百分点，仍高于临界点；中、小型企业PMI分 别为48.7%和47.4%，比上月下降1.1个和1.2个百分点，低于临界点。 从分类指数看，在构成制造业PMI的5个分类指数中，生产指数和供应商配送时间指数均高于临界点， 新订单指数、原材料库存指数和从业人员指数均低于临界点。 生产指数为50.6%，比上月下降1.1个百分点，仍高于临界点，表明制造业生产活动保持扩张。 新订单指数为49.2%，比上月下降1.6个百分点，表明制造业市场需求有所放缓。 原材料库存指数为47.4%，比上月下降0.4个百分点，表明制造业主要原材料库存量继续减少。 从业人员指数为48.1%，比上月下降0.1个百分点，表明制造业企业用工景气度略有回落。 供应商配送时间指数为50.1%，比上月下降0.1个百分点，仍高于临界点，表明制造业原材料供应商交货 时间持续加快。 二、中国非制造业采购经理指数运行情况 1月份，非制造业商务活动指数为49.4%，比上月 ...