2025年1—11月份全国固定资产投资基本情况 - 国家统计局

Core Viewpoint - In the first eleven months of 2025, China's fixed asset investment (excluding rural households) reached 444,035 billion yuan, showing a year-on-year decline of 2.6% [1][4]. Investment by Industry - Investment in the primary industry was 8,770 billion yuan, with a year-on-year growth of 2.7% [3][5]. - Investment in the secondary industry totaled 162,243 billion yuan, increasing by 3.9% [3][5]. - Investment in the tertiary industry was 273,022 billion yuan, reflecting a decline of 6.3% [3][5]. - Within the secondary industry, industrial investment grew by 4.0%, with mining investment also increasing by 4.0%, manufacturing investment rising by 1.9%, and investment in electricity, heat, gas, and water production and supply increasing by 10.7% [3][6]. Investment by Region - Eastern region investment decreased by 6.6%, central region investment fell by 1.7%, western region investment declined by 0.2%, and northeastern region investment saw a significant drop of 14.0% [3][6]. Investment by Registration Type - Domestic enterprises' fixed asset investment decreased by 2.6%, investment from Hong Kong, Macau, and Taiwan enterprises fell by 2.2%, while foreign enterprises' investment dropped sharply by 14.1% [3][6]. Detailed Investment Data - The overall fixed asset investment (excluding rural households) showed a decline of 2.6% year-on-year, with state-controlled investment down by 1.1% and private investment down by 5.3% [5][6]. - Specific categories such as construction and installation projects saw a decline of 6.4%, while equipment and tool purchases increased by 12.2% [5][6]. Industry-Specific Performance - In the manufacturing sector, notable growth was observed in the automotive manufacturing industry at 15.3% and in the railway, shipbuilding, aerospace, and other transportation equipment manufacturing at 22.4% [6][7]. - Conversely, the pharmaceutical manufacturing industry experienced a decline of 8.2%, and the chemical raw materials and chemical products manufacturing sector saw a drop of 13.1% [6][7]. Summary of Investment Trends - The overall trend indicates a contraction in fixed asset investment across various sectors, with significant regional disparities and varying performance across industries, highlighting potential areas for investment focus and concern [1][3][4].