国家统计局：1—9月份全国固定资产投资同比下降0.5%

Core Insights - National fixed asset investment (excluding rural households) reached 371,535 billion yuan from January to September 2025, showing a year-on-year decline of 0.5% [1] - Private fixed asset investment decreased by 3.1% year-on-year [1] - In September, fixed asset investment (excluding rural households) fell by 0.07% month-on-month [1] Investment by Industry - Investment in the primary industry was 7,344 billion yuan, with a year-on-year growth of 4.6% [1] - Investment in the secondary industry totaled 134,063 billion yuan, increasing by 6.3% [1] - Investment in the tertiary industry declined by 4.3%, totaling 230,128 billion yuan [1] - Within the secondary industry, industrial investment grew by 6.4% [1] - Mining investment increased by 3.7% [1] - Manufacturing investment rose by 4.0% [1] - Investment in electricity, heat, gas, and water production and supply surged by 15.3% [1] - In the tertiary industry, infrastructure investment (excluding electricity, heat, gas, and water production and supply) grew by 1.1% [1] - Investment in water transportation increased by 12.8% [1] - Railway transportation investment rose by 4.2% [1] - Water conservancy management investment grew by 3.0% [1] Regional Investment Trends - Investment in the eastern region declined by 4.5% year-on-year [1] - Investment in the central region increased by 1.5% [1] - Investment in the western region also grew by 1.5% [1] - The northeastern region experienced an investment decline of 8.4% [1] Investment by Registration Type - Domestic enterprises' fixed asset investment decreased by 0.6% year-on-year [1] - Investment from Hong Kong, Macau, and Taiwan enterprises fell by 0.3% [1] - Foreign enterprises' fixed asset investment saw a significant decline of 12.6% [1]