经济观察网 国家统计局新闻发言人、总经济师、国民经济综合统计司司长付凌晖在国新办发布会上表 示，从未来看，我国投资潜力和空间依然巨大，推动新质生产力发展，促进城乡区域协调发展，强化教 育、医疗、住房、基本公共服务等民生保障，满足人民美好生活需要，都需要持续加大投入。对于投资 下降，近期相关部门也推出了不少促进投资增长的措施，尤其是注重提高投资效益、注重激发民间投资 的活力，相信相关政策逐步显效，有利于投资稳步回升。下阶段，要继续优化投资结构，持续改善投资 环境，发挥政府投资导向作用，进一步激发民间投资活力，发挥好投资扩内需、优供给、惠民生的关键 作用，更好促进经济高质量发展。 经济观察网 国家统计局新闻发言人、总经济师、国民经济综合统计司司长付凌晖在国新办发布会上表 示，从未来看，我国投资潜力和空间依然巨大，推动新质生产力发展，促进城乡区域协调发展，强化教 育、医疗、住房、基本公共服务等民生保障，满足人民美好生活需要，都需要持续加大投入。对于投资 下降，近期相关部门也推出了不少促进投资增长的措施，尤其是注重提高投资效益、注重激发民间投资 的活力，相信相关政策逐步显效，有利于投资稳步回升。下阶段，要继续优化投资 ...

第二，更加注重质量提升和结构优化。保持投资合理增长、提高投资效益，就是既要投得准、投得够， 也要投得好、投得值。长期以来，我国在基础设施、制造业、房地产等领域投资，为经济高速增长提供 了重要支撑，但也存在一些基础设施投资"过度超前""重建轻用"、部分地区房地产投资脱离市场需求、 一些领域制造业投资低水平重复和同质化竞争等问题，投资回报率出现下降趋势，传统投资方式难以持 续，亟待转变。要着力做好"四个优化"。一是投资方向和结构要优化，主要是聚焦促进产业转型、消费 升级、人力资本提升、社会民生改善、安全能力提升等领域，积极扩大有效投资。二是主体结构要优 化，进一步明确中央和地方政府投资方向和重点，聚焦战略性强、外部性强、民间资本不愿投的领域开 展公共投资。更加清晰划定政府投资与民间投资边界，释放民间投资空间、激发民间投资活力、提高民 间投资比重，增强市场主导的有效投资增长动力。三是期限结构要优化，着眼于发展战略导向和增强长 远发展能力，培养壮大长期资本、耐心资本，激励和引导各类投资者做"时间的朋友"，扩大长期投资， 以匹配经济长期发展需要。四是投融资结构要优化，加强投资和融资政策配合，提高直接融资比重，降 低企业 ...

一扇窗口里的投资审批制度改革 "企业麻烦事就是政府分内事" 本报记者杨颜菲 冬日暖阳下，江西省安福高新技术产业园区明讯二期厂房的装修已进入收尾阶段。安福县招商服务三局 工作人员彭龙带着消防验收人员穿梭在施工现场，指着吊顶内的管线，叮嘱施工负责人："喷淋头的位 置要按这个标准留，一步到位，省去后期整改麻烦。"这是"店小二"彭龙的日常——不是在为企业跑 腿，就是在去企业调研的路上。 "十五五"规划建议提出："扩大有效投资。保持投资合理增长，提高投资效益。"岁末年初，重大工程建 设争分夺秒，民生项目加速筹划落地，政策支持、改革加力，投资焕发新活力。深化投资审批制度改 革，优化政府投资结构，提高民间投资比重……记者走进施工现场、生产车间，探访投资新气象。 ——编者 2023年3月，安徽明讯新材料科技股份有限公司签约落户安福县。从一期快速投产到二期顺利推进，让 这家国家级专精特新"小巨人"企业感受最深的，是一句承诺："你们专心搞生产，手续的事情交给我 们。" 项目一签约，彭龙就把一份"明讯项目推进清单"发到了企业项目负责人彭艳萍的微信上。清单上，从立 项、规划、施工许可到工程验收，每一个环节需要准备的材料、办理时限、前 ...

"十五五"规划建议提出："扩大有效投资。保持投资合理增长，提高投资效益。"岁末年初，重大工程建 设争分夺秒，民生项目加速筹划落地，政策支持、改革加力，投资焕发新活力。深化投资审批制度改 革，优化政府投资结构，提高民间投资比重……记者走进施工现场、生产车间，探访投资新气象。 ——编者 本报记者杨颜菲 冬日暖阳下，江西省安福高新技术产业园区明讯二期厂房的装修已进入收尾阶段。安福县招商服务三局 工作人员彭龙带着消防验收人员穿梭在施工现场，指着吊顶内的管线，叮嘱施工负责人："喷淋头的位 置要按这个标准留，一步到位，省去后期整改麻烦。"这是"店小二"彭龙的日常——不是在为企业跑 腿，就是在去企业调研的路上。 2023年3月，安徽明讯新材料科技股份有限公司签约落户安福县。从一期快速投产到二期顺利推进，让 这家国家级专精特新"小巨人"企业感受最深的，是一句承诺："你们专心搞生产，手续的事情交给我 们。" 项目一签约，彭龙就把一份"明讯项目推进清单"发到了企业项目负责人彭艳萍的微信上。清单上，从立 项、规划、施工许可到工程验收，每一个环节需要准备的材料、办理时限、前置条件，清清楚楚。 "过去是企业追着部门跑，现在是'店小二' ...

（原标题：内需"双引擎"扩容提质 增长新动能释放新潜力——2025年终经济观察） 证券时报记者 贺觉渊 2025年是"十四五"规划收官之年。在高度不确定性的外部环境下，由消费和投资组成的内需"双引擎"继 续推动国民经济运行保持平稳，且消费结构持续升级，投资结构不断优化，为今后释放内需潜力积蓄动 能。在受访专家学者看来，若进一步加大扩内需政策力度，内需潜力有望持续释放，更大程度发挥消费 和投资对经济增长的拉动作用。 服务消费扩容提质 在提振消费专项行动各项措施作用下，今年以来商品消费稳步扩大，同时旅游出行、文化体育、网上消 费持续活跃，为消费扩大注入新的动力。今年前10个月，社会消费品零售总额同比增长4.3%，服务零 售额增长5.3%。 《中共中央关于制定国民经济和社会发展第十五个五年规划的建议》已将"居民消费率明显提高，内需 拉动经济增长主动力作用持续增强"作为"十五五"时期经济社会发展的主要目标。尽管有效需求不足的 局面仍有待破解，但今年以来的消费结构升级与投资结构优化，将为"十五五"开局之年积蓄动能。 中国宏观经济研究院决策咨询部主任孙学工近日表示，明年国内大市场潜力将进一步释放。居民消费能 力和消费结构 ...

2025年是"十四五"规划收官之年。在高度不确定性的外部环境下，由消费和投资组成的内需"双引擎"继 续推动国民经济运行保持平稳，且消费结构持续升级，投资结构不断优化，为今后释放内需潜力积蓄动 能。在受访专家学者看来，若进一步加大扩内需政策力度，内需潜力有望持续释放，更大程度发挥消费 和投资对经济增长的拉动作用。 服务消费扩容提质 今年前10个月，扣除房地产开发投资后的全国固定资产投资同比增长1.7%，其中，基建投资下降 0.1%，制造业投资增长2.7%，显示出在投资增速整体放缓的背景下，我国投资结构正在持续优化，尤 其是信息服务业，航空、航天器及设备制造业等部分高技术产业投资保持较快增长。 在提振消费专项行动各项措施作用下，今年以来商品消费稳步扩大，同时旅游出行、文化体育、网上消 费持续活跃，为消费扩大注入新的动力。今年前10个月，社会消费品零售总额同比增长4.3%，服务零 售额增长5.3%。 加力扩围后的消费品以旧换新政策在今年发挥出更大效能。前11个月，消费品以旧换新政策带动销售额 超2.5万亿元，惠及超3.6亿人次。"今年以旧换新政策资金规模大、涉及人群多，对汽车换能、家电换 智、家装焕新的成效显著。" ...

Core Viewpoint - The fixed asset investment in China has shown a significant slowdown in 2023, with a year-on-year decline of 1.7% in the first ten months, and a rare drop of -11.2% in October, leading to concerns about economic deflation and crisis [2] Investment Trends - The high investment rate has been a challenge for China's economic growth model, contributing to structural supply-demand imbalances [2] - The slowdown in investment growth is a manifestation of new issues such as decelerating urbanization and declining infrastructure demand [2] - Real estate investment has been the largest drag on fixed asset investment, with a 14.7% year-on-year decline in the first ten months, pulling down overall investment growth by 3 percentage points [2] Sector Performance - Excluding real estate, actual project investment grew by 1.7%, indicating some resilience in other sectors [2] - Manufacturing investment increased by 2.7% year-on-year, accounting for 25.6% of total investment, reflecting a shift towards high-quality development [3] - High-end manufacturing and green transition sectors are experiencing rapid investment growth, showcasing a transition from scale-based to efficiency-based investment [3] Government Policy and Investment Strategy - The government is focusing on optimizing public investment efficiency and expanding effective investment through various financial tools [4] - There is an emphasis on increasing support for "two new" constructions and enhancing policy implementation effectiveness [5] - The government aims to stimulate private investment by improving mechanisms for private sector participation in major projects and encouraging high-value-added activities to return to China [5]

Core Viewpoint - The proposal emphasizes the need to expand effective investment in Beijing's economic and social development, focusing on maintaining reasonable growth and improving investment efficiency [1] Investment Strategy - The strategy includes promoting a positive interaction between investment and consumption, combining investments in physical assets and human resources [1] - It aims to optimize the investment structure by strengthening investments in urban renewal, technological innovation, emerging industries, future industries, and new infrastructure [1] Social Development Focus - There is a strong emphasis on increasing investments that improve livelihoods and upgrade consumption, as well as enhancing human resource development and comprehensive personal development [1] Project and Financing Mechanisms - The proposal calls for strengthening project reserves and resource guarantees, implementing a number of significant flagship projects [1] - It advocates for deepening reforms in the investment and financing system, effectively utilizing various types of government investments, and improving mechanisms for private enterprises to participate in major project construction [1] - The government investment is expected to play a guiding role to stimulate private investment vitality [1]

Economic Overview - The overall economic operation in the province has been stable and progressing steadily in the first ten months of the year, with key sectors such as industry, consumption, and services showing positive developments [1][2]. Industrial Performance - The industrial economy has maintained a robust growth trend, with the industrial added value of large-scale enterprises increasing by 6.8% year-on-year from January to October. In October alone, the growth rate was 5.8%, with high-end manufacturing sectors such as equipment manufacturing, high-tech manufacturing, and digital core product manufacturing growing by 8.0%, 11.7%, and 9.4% respectively, outpacing the overall growth [1]. Consumption Market - The consumption market has shown signs of recovery, with total retail sales of consumer goods reaching 38,816.8 billion yuan, a year-on-year increase of 4.0% from January to October. In October, retail sales of household appliances and audio-visual equipment rose by 7.4%, while sales of computers and related products surged by 48%, indicating strong demand for upgraded and digital products [2]. Service Sector - The service sector has maintained a stable development trend, with revenue from large-scale service industries increasing by 7.2% year-on-year from January to September. Notable growth was observed in residential services, repair and other services, rental and business services, and water, environment, and public facility management, with respective growth rates of 14.2%, 12.7%, and 9.7% [2]. Fixed Asset Investment - Fixed asset investment has seen a year-on-year decline of 8.7% from January to October; however, the investment structure has been optimizing. Significant growth was noted in infrastructure investments, particularly in the electricity and heat production and supply industry, which grew by 22.9%, and in loading, unloading, and warehousing, which increased by 27.2% [3].

Economic Overview - The overall economic operation in the province has been stable and progressing steadily in the first ten months of the year, with key sectors such as industry, consumption, and services showing positive developments [1][2]. Industrial Performance - The industrial economy has maintained a robust growth trend, with the industrial added value of large-scale enterprises increasing by 6.8% year-on-year from January to October. In October alone, the growth rate was 5.8%, with high-end manufacturing sectors like equipment manufacturing, high-tech manufacturing, and digital core product manufacturing growing by 8.0%, 11.7%, and 9.4% respectively, outpacing the overall growth [1]. Consumption Market - The consumption market has shown signs of recovery, with the total retail sales of social consumer goods reaching 38,816.8 billion yuan, a year-on-year increase of 4.0% from January to October. In October, retail sales of household appliances and audio-visual equipment rose by 7.4%, while sales of computers and related products surged by 48%, indicating strong demand for upgraded and digital products [2]. Service Sector - The service sector has maintained a stable development trend, with revenue from large-scale service industries increasing by 7.2% year-on-year from January to September. Notable growth was observed in resident services, rental and business services, and water, environment, and public facility management, with respective increases of 14.2%, 12.7%, and 9.7% [2]. Fixed Asset Investment - Fixed asset investment in the province has decreased by 8.7% year-on-year from January to October, but the investment structure has been optimized. Significant growth was noted in infrastructure investments, particularly in the electricity and heat production and supply industry, which grew by 22.9%, and in loading, unloading, and warehousing, which increased by 27.2% [3].