中国2025年固定资产投资同比下降3.8%，采矿业投资增长2.5%、制造业增长0.6%

Core Insights - In 2025, China's total fixed asset investment (excluding rural households) reached 48,518.6 billion yuan, representing a decline of 3.8% compared to the previous year [1][3] - Private fixed asset investment decreased by 6.4% year-on-year, indicating a significant contraction in private sector investment [1][4] - The industrial investment within the secondary sector grew by 2.6% year-on-year, with mining investment increasing by 2.5% and manufacturing investment rising by 0.6% [1][3] Investment by Sector - Primary sector investment amounted to 957 billion yuan, showing a growth of 2.3% year-on-year [3] - Secondary sector investment totaled 177,368 billion yuan, reflecting a growth of 2.5% [3] - Tertiary sector investment was 298,248 billion yuan, which saw a decline of 7.4% [3] Regional Investment Trends - Investment in the eastern region decreased by 8.4% year-on-year, while the central region saw a decline of 2.7% [3] - The western region experienced a decrease of 1.3%, and the northeastern region faced a significant drop of 15.5% [3] Investment by Registration Type - Domestic enterprises' fixed asset investment fell by 3.8% year-on-year [4] - Investment from Hong Kong, Macau, and Taiwan enterprises decreased by 2.2% [4] - Foreign enterprises' fixed asset investment saw a substantial decline of 13.8% [4]