Zheng Quan Shi Bao Wang·2026-01-25 23:50Core Viewpoint - In 2025, China's infrastructure investment is projected to reach 24.5 trillion yuan, representing a 1.5% decrease compared to the previous year, with a slowdown of 1.6 percentage points compared to the cumulative growth rate from January to November [1] Infrastructure Investment Summary - The narrow infrastructure growth rate for 2025 is recorded at -2.2%, which is a decline of 1.1 percentage points compared to the cumulative growth rate from January to November [1] - Key sectors such as pipeline transportation, warehousing, and internet services are maintaining a relatively fast growth rate in infrastructure investment, while sectors like ecological protection, water conservancy, road transport, and public facilities are experiencing significant declines [1] Policy Impact Summary - A series of investment-promoting policies have been implemented since the second half of 2025, but there is a lag in the realization of infrastructure investment from funding to project completion [1] - With the support of new policy financial tools, ultra-long-term special bonds, and newly issued special bonds, infrastructure investment in key projects and sectors is expected to accelerate in the first half of 2026 [1]