多维度解析经济三季报：新动能增长提速 消费扛大旗
Di Yi Cai Jing·2025-10-20 06:31

Economic Growth - The GDP of China grew by 5.2% year-on-year in the first three quarters, with a growth of 4.8% in the third quarter, reflecting a slowdown of 0.4 percentage points compared to the second quarter [1][2][3] - The economic increment reached 39,679 billion, which is an increase of 1,368 billion compared to the previous year [3] Industrial Performance - In September, the industrial added value above designated size increased by 6.5% year-on-year, marking a recovery of 1.3 percentage points, the highest level in three months [1][6] - For the first three quarters, the industrial added value grew by 6.2% [6] - Among 41 major industries, 36 reported year-on-year growth in added value in September [7] Employment and Prices - The average urban unemployment rate for the first three quarters was 5.2%, consistent with the first half of the year [3] - The Consumer Price Index (CPI) slightly decreased by 0.1%, while the core CPI, excluding food and energy, rose by 0.6% [3] International Trade - China's foreign trade demonstrated strong resilience, with import and export volumes reaching historical highs, and foreign exchange reserves remained above 3.3 trillion USD [3][4] Domestic Demand - Final consumption expenditure contributed 53.5% to economic growth in the first three quarters, an increase of 9.0 percentage points from the previous year [10] - The government has allocated 300 billion yuan in special bonds to support consumption upgrades [10] Investment Trends - Fixed asset investment (excluding rural households) was 371,535 billion yuan, showing a year-on-year decline of 0.5%, primarily due to the impact of real estate development investment [12][13] - Investment in equipment and tools increased by 14.0% year-on-year, contributing 2.0 percentage points to overall investment growth [12][13] Technological Advancements - The added value of high-tech manufacturing increased by 9.6% in the first three quarters, with significant growth in sectors like integrated circuit manufacturing and industrial robots [6][8]