2025年我国固定资产投资同比下降3.8％

Core Insights - In 2025, China's fixed asset investment (excluding rural households) reached 48,518.6 billion yuan, representing a decline of 3.8% compared to the previous year [1] - Private fixed asset investment decreased by 6.4% year-on-year [1] - Month-on-month, fixed asset investment fell by 1.13% in December [1] Investment by Industry - Primary industry investment was 957 billion yuan, showing a growth of 2.3% year-on-year [3] - Secondary industry investment totaled 177,368 billion yuan, with a growth of 2.5% [3] - Tertiary industry investment was 298,248 billion yuan, experiencing a decline of 7.4% [3] - Within the secondary industry, industrial investment grew by 2.6%, with mining investment up by 2.5%, manufacturing investment up by 0.6%, and investment in electricity, heat, gas, and water production and supply up by 9.1% [3] - In the tertiary industry, infrastructure investment (excluding electricity, heat, gas, and water production and supply) decreased by 2.2% [3] - Notable growth in specific sectors included pipeline transportation investment up by 36.0%, multimodal transport and logistics investment up by 22.9%, and water transportation investment up by 7.7% [3] Investment by Region - Investment in the eastern region declined by 8.4% year-on-year [3] - The central region saw a decrease of 2.7% in investment [3] - Investment in the western region fell by 1.3% [3] - The northeastern region experienced the most significant decline, with a drop of 15.5% [3] Investment by Registration Type - Domestic enterprises' fixed asset investment decreased by 3.8% year-on-year [4] - Investment from Hong Kong, Macau, and Taiwan enterprises fell by 2.2% [4] - Foreign enterprises' fixed asset investment saw a significant decline of 13.8% [4]