前11个月全国固定资产投资下降2.6％，发改委要求多措并举促进投资止跌回稳

Core Viewpoint - The fixed asset investment in China has shown a continuous decline, with a year-on-year decrease of 2.6% in the first 11 months of the year, prompting government initiatives to stabilize and promote investment recovery [2][6]. Investment Trends - Fixed asset investment (excluding rural households) reached 444,035 billion yuan, with a notable decline in private investment by 5.3% year-on-year [2]. - The narrow infrastructure investment saw a year-on-year decline of 9.7%, while the broad infrastructure investment decreased by 11.9% [3]. - Manufacturing investment showed a year-on-year growth of 1.9%, although it decreased by 0.8 percentage points compared to the previous month [4]. Government Initiatives - The Central Economic Work Conference emphasized the need to "stop the decline and stabilize investment," with plans to implement various measures to support investment recovery [6]. - New policy financial tools amounting to 500 billion yuan are expected to stimulate investment, particularly in infrastructure and manufacturing sectors [5][7]. - The government aims to optimize fiscal spending and enhance the effectiveness of investment through various initiatives, including increasing central budget investments and managing local government special bonds [6][7]. Sector-Specific Insights - The construction and installation engineering sector experienced a cumulative year-on-year decline of 6.4%, while equipment and tool purchases increased by 12.2%, contributing positively to overall investment growth [4]. - High-tech industries within the manufacturing sector maintained robust investment growth, indicating a shift towards modernization and competitiveness [4][7]. - The investment in electricity, heat production, and supply grew by 12.5%, while internet services and water transport investments increased by 20.7% and 8.9%, respectively [4].