近期生产、价格、预期等都出现积极变化！国家统计局发声

Economic Overview - In 2025, China's GDP reached a new milestone of 140 trillion yuan, growing by 5.0% compared to the previous year, with a stable urban unemployment rate averaging 5.2% [1] - The economic performance in 2025 demonstrated strong resilience and vitality, laying a solid foundation for growth in 2026 [2] Economic Indicators - Positive changes were observed in production, prices, and expectations, with industrial output and service production indices accelerating in December 2025 [2] - The Consumer Price Index (CPI) rose by 0.8%, the highest increase since March 2023, while the Producer Price Index (PPI) saw a narrowing of its year-on-year decline [2] - Manufacturing PMI and non-manufacturing business activity index returned to expansion territory [2] Investment and R&D - R&D expenditure intensity reached 2.8%, surpassing the OECD average for the first time, with high-tech manufacturing value added accounting for 17.1% of total industrial value added [3] - The contribution rates of final consumption expenditure, gross capital formation, and net exports to economic growth were 52.0%, 15.3%, and 32.7% respectively in 2025 [3] Consumer Trends - Resident consumption is shifting from a focus on goods to a balanced emphasis on both goods and services, with service retail sales growing by 5.5%, outpacing goods retail sales [4] - Service consumption accounted for 46.1% of per capita consumption expenditure, indicating a significant shift in consumer behavior [4] - The tourism, transportation, and cultural sectors experienced double-digit growth, with domestic box office revenues increasing by over 20% [4] Future Outlook - Despite facing challenges, there are positive factors supporting continued consumption growth, including the construction of a unified national market and advancements in technology [4]