Summary of Key Points Core Viewpoint - In October 2025, the sales prices of commercial residential properties in 70 major cities showed a decline both month-on-month and year-on-year across various city tiers. Group 1: Month-on-Month Price Changes - In October, the sales prices of new commercial residential properties in first-tier cities decreased by 0.3%, with Shanghai increasing by 0.3% while Beijing, Guangzhou, and Shenzhen saw declines of 0.1%, 0.8%, and 0.7% respectively [1] - Second-tier cities experienced a month-on-month decline of 0.4%, consistent with the previous month, while third-tier cities saw a decline of 0.5%, which is an increase in the rate of decline by 0.1 percentage points [1] - The month-on-month sales prices of second-hand residential properties in first-tier cities fell by 0.9%, a slight narrowing of the decline by 0.1 percentage points compared to the previous month [2] - Second-tier cities' second-hand residential prices decreased by 0.6%, with a narrowing of the decline by 0.1 percentage points, while third-tier cities saw a decline of 0.7%, which is an increase in the rate of decline by 0.1 percentage points [1][2] Group 2: Year-on-Year Price Changes - In October, the year-on-year sales prices of new commercial residential properties in first-tier cities dropped by 0.8%, with the decline rate widening by 0.1 percentage points compared to the previous month [1] - Shanghai's new commercial residential prices increased by 5.7%, while Beijing, Guangzhou, and Shenzhen experienced declines of 2.0%, 4.2%, and 2.6% respectively [1] - Second-tier cities saw a year-on-year decline of 2.0%, with a narrowing of the decline by 0.1 percentage points, while third-tier cities experienced a decline of 3.4%, consistent with the previous month [1] - The year-on-year sales prices of second-hand residential properties in first-tier cities fell by 4.4%, with the decline rate expanding by 1.2 percentage points compared to the previous month [2] - Second-tier cities' second-hand residential prices decreased by 5.2%, with the decline rate widening by 0.2 percentage points, while third-tier cities saw a decline of 5.7%, consistent with the previous month [2]

10月份，一线城市二手住宅销售价格环比下降0.9%，降幅比上月收窄0.1个百分点。其中，北京、上 海、广州和深圳分别下降1.1%、0.9%、0.9%和0.9%。二线城市二手住宅销售价格环比下降0.6%，降幅 收窄0.1个百分点。三线城市二手住宅销售价格环比下降0.7%，降幅扩大0.1个百分点。 国家统计局：10月份，一线城市新建商品住宅销售价格环比下降0.3%，降幅与上月相同。其中，上海 上涨0.3%，北京、广州和深圳分别下降0.1%、0.8%和0.7%。二线城市新建商品住宅销售价格环比下降 0.4%，降幅与上月相同。三线城市新建商品住宅销售价格环比下降0.5%，降幅扩大0.1个百分点。 ...

据国家统计局消息，2025年10月份，70个大中城市中，各线城市商品住宅销售价格环比和同比均下降。 一、各线城市商品住宅销售价格环比下降 10月份，一线城市二手住宅销售价格同比下降4.4%，降幅比上月扩大1.2个百分点。其中，北京、上 海、广州和深圳分别下降4.7%、3.4%、6.4%和3.3%。二线城市二手住宅销售价格同比下降5.2%，降幅 扩大0.2个百分点。三线城市二手住宅销售价格同比下降5.7%，降幅与上月相同。 注释： 70个大中城市房地产价格统计一二三线城市划分：一线城市指北京、上海、广州、深圳等4个城市；二 线城市指天津、石家庄、太原、呼和浩特、沈阳、大连、长春、哈尔滨、南京、杭州、宁波、合肥、福 州、厦门、南昌、济南、青岛、郑州、武汉、长沙、南宁、海口、重庆、成都、贵阳、昆明、西安、兰 州、西宁、银川、乌鲁木齐等31个城市；三线城市指唐山、秦皇岛、包头、丹东、锦州、吉林、牡丹 江、无锡、徐州、扬州、温州、金华、蚌埠、安庆、泉州、九江、赣州、烟台、济宁、洛阳、平顶山、 宜昌、襄阳、岳阳、常德、韶关、湛江、惠州、桂林、北海、三亚、泸州、南充、遵义、大理等35个城 市。 原标题：国家统计局城市司首席 ...

Core Viewpoint - The monitoring of market prices for 50 important production materials across nine categories shows a mixed trend, with 26 products experiencing price increases, 23 seeing declines, and one remaining stable in early November 2025 compared to late October 2025 [2][3]. Group 1: Price Changes in Major Categories - In the black metal category, prices for rebar decreased by 3.8 yuan per ton to 3118.5 yuan, while ordinary medium plates fell by 13.7 yuan to 3411.8 yuan [5]. - In the non-ferrous metal category, electrolytic copper saw a decline of 599.6 yuan per ton, now priced at 86209.2 yuan, while aluminum ingots increased by 319.5 yuan to 21418.3 yuan [6]. - Chemical products experienced varied changes, with sulfuric acid rising by 71.0 yuan to 785.3 yuan, while methanol dropped by 86.9 yuan to 2074.4 yuan [6][10]. Group 2: Energy and Coal Prices - In the petroleum and natural gas sector, liquefied natural gas (LNG) prices increased by 86.8 yuan to 4323.9 yuan per ton, while gasoline (95) prices decreased by 93.3 yuan to 8000.3 yuan [8]. - Coal prices showed a mixed trend, with ordinary mixed coal rising by 24.4 yuan to 611.8 yuan per ton, while coking coal prices were reported at 1623.3 yuan [9]. Group 3: Agricultural Products and Fertilizers - In agricultural products, the price of rice fell by 9.9 yuan to 3909.7 yuan per ton, while soybean prices increased by 49.2 yuan to 4298.3 yuan [10]. - Fertilizer prices also varied, with urea increasing by 3.1 yuan to 1619.8 yuan per ton, while the price of glyphosate decreased by 125.0 yuan to 27375.0 yuan [10]. Group 4: Monitoring Methodology - The price monitoring encompasses 31 provinces and over 300 trading markets, involving nearly 2000 wholesalers, agents, and distributors [13]. - The methodology includes on-site price collection, telephone inquiries, and electronic communications for data accuracy [14].

表 1：2025 年10 月70个大中城市新建商品住宅销售价格指数 | 城市 | 环比 | | | | --- | --- | --- | --- | | 同比 | 1-10月平均 | | | | 城市 | 环比 | | | | 同比 | 1-10月平均 | | | | 上月=100 | 上年同月=100 | | | | 上年同期=100 | 上月=100 | | | | 上年同月=100 | 上年同期=100 | | | | 北京 | 99.9 | | | | 98.0 | 95.8 | | | | 唐山 | 99.3 | | | | 94.2 | 93.1 | | | | 天津 | 99.3 | | | | 98.5 | 98.1 | | | | 秦 | 皇 | 岛 | 99.8 | | 95.3 | 93.9 | | | | 石 | 家 | 庄 | 99.5 | | 96.3 | 96.5 | | | | 包头 | 99.3 | | | | 94.1 | 93.9 | | | | 太原 | 99.6 | | | | 100.0 | 100.9 | | | | 丹东 | 99.9 | | | | 96.4 ...

Core Insights - In October 2025, the sales prices of commercial residential properties in major cities experienced a decline both month-on-month and year-on-year across all city tiers [2][3][4]. Group 1: Month-on-Month Price Changes - In October, the sales prices of new commercial residential properties in first-tier cities decreased by 0.3%, with Shanghai increasing by 0.3% while Beijing, Guangzhou, and Shenzhen saw declines of 0.1%, 0.8%, and 0.7% respectively [3]. - Second-tier cities experienced a month-on-month decline of 0.4%, while third-tier cities saw a decrease of 0.5%, which is an increase in the decline rate by 0.1 percentage points [3]. - The month-on-month sales prices of second-hand residential properties in first-tier cities fell by 0.9%, a slight narrowing of the decline compared to the previous month [3]. Group 2: Year-on-Year Price Changes - Year-on-year, the sales prices of new commercial residential properties in first-tier cities dropped by 0.8%, with Shanghai increasing by 5.7% while Beijing, Guangzhou, and Shenzhen saw declines of 2.0%, 4.2%, and 2.6% respectively [4]. - Second-tier cities experienced a year-on-year decline of 2.0%, while third-tier cities saw a decrease of 3.4%, maintaining the same decline rate as the previous month [4]. - The year-on-year sales prices of second-hand residential properties in first-tier cities decreased by 4.4%, with a notable increase in the decline rate by 1.2 percentage points compared to the previous month [4].

Summary of Key Points Core Viewpoint - In October 2025, the sales prices of commercial residential properties in 70 major cities showed a decline both month-on-month and year-on-year across various city tiers, indicating a continued downward trend in the real estate market. Group 1: Month-on-Month Price Changes - In October, the sales prices of new commercial residential properties in first-tier cities decreased by 0.3%, with Shanghai increasing by 0.3% while Beijing, Guangzhou, and Shenzhen saw declines of 0.1%, 0.8%, and 0.7% respectively [1] - Second-tier cities experienced a month-on-month decline of 0.4% in new commercial residential property prices, consistent with the previous month [1] - Third-tier cities saw a month-on-month decrease of 0.5%, with the decline widening by 0.1 percentage points compared to the previous month [1] - The month-on-month sales prices of second-hand residential properties in first-tier cities fell by 0.9%, a slight narrowing of the decline by 0.1 percentage points from the previous month [2] - Second-tier cities recorded a month-on-month decline of 0.6% in second-hand residential property prices, also narrowing by 0.1 percentage points [2] - Third-tier cities experienced a month-on-month decrease of 0.7%, with the decline widening by 0.1 percentage points [2] Group 2: Year-on-Year Price Changes - In October, the year-on-year sales prices of new commercial residential properties in first-tier cities dropped by 0.8%, with the decline expanding by 0.1 percentage points from the previous month [1] - Shanghai saw a year-on-year increase of 5.7%, while Beijing, Guangzhou, and Shenzhen experienced declines of 2.0%, 4.2%, and 2.6% respectively [1] - Second-tier cities reported a year-on-year decline of 2.0%, with the decline narrowing by 0.1 percentage points [1] - Third-tier cities faced a year-on-year decrease of 3.4%, with the decline remaining consistent with the previous month [1] - The year-on-year sales prices of second-hand residential properties in first-tier cities fell by 4.4%, with the decline expanding by 1.2 percentage points from the previous month [2] - Second-tier cities saw a year-on-year decline of 5.2%, with the decline widening by 0.2 percentage points [2] - Third-tier cities experienced a year-on-year decrease of 5.7%, with the decline remaining unchanged from the previous month [2]

Group 1 - The core objective of the system is to organize foreign investment statistics in China effectively, in accordance with relevant laws and regulations [1] - The statistical survey targets foreign-invested enterprises, financial branches, and oil and gas development projects operating within China [2] - The main indicators investigated include the number of newly established enterprises, contracted foreign capital, and actual utilized foreign capital [3] Group 2 - A comprehensive statistical survey method is employed, utilizing foreign investment information reports as the foundational data [4] - The Ministry of Commerce is responsible for the aggregation, publication, and external communication of national foreign investment statistics [5] - Monthly statistics on actual utilized foreign capital will be published by the Ministry of Commerce within 30 days after the end of each month, with annual data released in the "China Foreign Investment Statistical Bulletin" [6]

Core Insights - In October 2025, the national industrial producer's ex-factory prices decreased by 2.1% year-on-year, with the decline narrowing by 0.2 percentage points compared to the previous month, while month-on-month, it shifted from flat to an increase of 0.1% [1] - The average industrial producer's ex-factory prices from January to October fell by 2.7% compared to the same period last year [1] Year-on-Year Changes in Industrial Producer Prices - In October, the prices of production materials decreased by 2.4%, contributing approximately 1.77 percentage points to the overall decline in ex-factory prices. The mining industry saw a price drop of 7.8%, raw materials decreased by 2.5%, and processing industry prices fell by 1.9% [1] - Prices of living materials decreased by 1.4%, impacting the overall ex-factory price level by about 0.36 percentage points. Food prices fell by 1.6%, clothing prices decreased by 0.3%, while general daily necessities increased by 1.0%, and durable consumer goods dropped by 3.2% [1] Month-on-Month Changes in Industrial Producer Prices - In October, the prices of production materials increased by 0.1%, contributing approximately 0.08 percentage points to the overall increase in ex-factory prices. The mining industry prices rose by 1.0%, while raw materials remained flat, and processing industry prices increased by 0.1% [2] - Living materials prices remained unchanged, with food and clothing prices both decreasing by 0.1%, while general daily necessities increased by 0.7%, and durable consumer goods prices fell by 0.3% [2] Changes in Industrial Producer Purchase Prices - In October, the purchase prices of industrial producers saw a decline in several categories: fuel and power prices decreased by 7.4%, agricultural and sideline products fell by 5.2%, and chemical raw materials dropped by 5.0% [1] - Conversely, prices for non-ferrous metals and wire increased by 7.5% [1]

Group 1: CPI Analysis - The Consumer Price Index (CPI) increased by 0.2% month-on-month and 0.2% year-on-year, with the core CPI (excluding food and energy) rising by 1.2%, marking the highest increase since March 2024 [1][3] - Service prices shifted from a decline of 0.3% to an increase of 0.2%, driven by strong travel demand during the National Day and Mid-Autumn Festival, with hotel accommodation, flight tickets, and tourism prices rising by 8.6%, 4.5%, and 2.5% respectively [2][3] - Food prices increased by 0.3%, contrasting with a seasonal decline of 0.1%, with significant price rises in fresh vegetables, lamb, fresh fruits, and seafood ranging from 0.5% to 4.3% [2][3] Group 2: PPI Analysis - The Producer Price Index (PPI) shifted from flat to an increase of 0.1% month-on-month, marking the first increase of the year, with improvements in supply-demand relationships contributing to price rises in several industries [4][5] - Year-on-year, the PPI decreased by 2.1%, but the decline narrowed by 0.2 percentage points for the third consecutive month, with significant price increases in sectors like photovoltaic equipment manufacturing and coal mining [4][5] - Input factors led to a mixed price trend in domestic non-ferrous metals and oil-related industries, with international metal prices rising and domestic oil and gas extraction prices declining by 2.3% [4][5]