国家统计局公布2025年全国固定资产投资基本情况

Core Insights - In 2025, China's total fixed asset investment (excluding rural households) is projected to be 48,518.6 billion yuan, representing a decline of 3.8% compared to the previous year [1] - Private fixed asset investment is expected to decrease by 6.4% year-on-year [1] - Month-on-month, fixed asset investment (excluding rural households) fell by 1.13% in December [1] Investment by Industry - Investment in the primary industry reached 957 billion yuan, showing a growth of 2.3% year-on-year [3] - Investment in the secondary industry totaled 177,368 billion yuan, with a growth of 2.5% [3] - The tertiary industry saw a decline in investment of 7.4%, totaling 298,248 billion yuan [3] - Within the secondary industry, industrial investment grew by 2.6%, with mining investment increasing by 2.5%, manufacturing investment rising by 0.6%, and investment in electricity, heat, gas, and water production and supply increasing 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 infrastructure investment includes a 36% increase in pipeline transportation and a 22.9% increase in multimodal transport and transportation agency services [3] Investment by Region - Investment in the eastern region declined by 8.4% year-on-year [3] - The central region experienced a decrease of 2.7% in investment [3] - The western region saw a decline of 1.3% in investment [3] - The northeastern region faced the most significant drop, with a decrease of 15.5% [3] Investment by Registration Type - Domestic enterprises' fixed asset investment fell by 3.8% year-on-year [3] - Investment from Hong Kong, Macau, and Taiwan enterprises decreased by 2.2% [3] - Foreign enterprises experienced a significant decline in fixed asset investment, dropping by 13.8% [3]