前10个月，全国固定资产投资同比下降1.7％

Core Insights - In October 2025, China's fixed asset investment (excluding rural households) reached 408.914 billion yuan, showing a year-on-year decline of 1.7% [1][6] - Private fixed asset investment decreased by 4.5% year-on-year [1][6] Investment by Industry - Investment in the primary industry was 80.75 billion yuan, with a year-on-year growth of 2.9% [3] - The secondary industry saw an investment of 1,484.11 billion yuan, growing by 4.8% [3] - The tertiary industry experienced a decline in investment of 5.3%, totaling 2,524.29 billion yuan [3] Secondary Industry Breakdown - Industrial investment in the secondary industry grew by 4.9% year-on-year [4] - Mining investment increased by 3.8%, while manufacturing investment rose by 2.7% [4] - Investment in the electricity, heat, gas, and water production and supply industry surged by 12.5% [4] Infrastructure and Regional Investment - Infrastructure investment (excluding electricity, heat, gas, and water production and supply) saw a slight decline of 0.1% [4] - Investment in pipeline transportation grew by 13.8%, while water transportation and railway transportation investments increased by 9.4% and 3.0%, respectively [4] - Investment in the eastern region fell by 5.4%, while the central region saw a decrease of 0.5%. The western region experienced a slight growth of 0.4%, and the northeastern region faced a significant decline of 11.7% [4] Investment by Registration Type - Domestic enterprises' fixed asset investment decreased by 1.7% year-on-year [5] - Investment from Hong Kong, Macau, and Taiwan enterprises fell by 1.8% [5] - Foreign enterprises' fixed asset investment saw a notable decline of 12.1% [5]