单位：% 2025/12 2025/09 2025/06 单位：% 2025/12 2025/11 2025/10 GDP当季同比 4.50 4.80 5.20 制造业累计同比 0.60 1.90 2.70 GDP环比 1.20 1.10 1.00 基建累计同比 -1.48 0.13 1.51 GDP累计同比 5.00 5.20 5.30 房地产累计同比 -17.20 -15.90 -14.70 2025/12 2025/11 2025/10 商品房销售面积累计 -8.70 -7.80 -6.80 工业增加值当月同比 5.20 4.80 4.90 商品房销售面积当月 -16.58 -17.93 -19.60 工业增加值累计同比 5.90 6.00 6.10 房屋新开工面积当月 -19.30 -27.73 -29.25 工业增加值环比 0.49 0.44 0.17 房屋施工面积当月 -47.14 -41.59 -7.10 采矿业当月 5.40 6.30 17.50 房屋竣工面积当月 -18.36 -25.40 -27.95 制造业当月 5.70 4.60 39.50 地产开发资金来源当月 -28.09 -32. ...

格隆汇1月20日丨伟隆股份(002871.SZ)公布，第五届董事会第十九次会议审议通过了《关于授权全资子 公司与专业投资机构共同投资的议案》，同意公司全资子公司伟隆（香港）实业有限公司（WEFLO (HONGKONG) INDUSTRIAL CO., LIMITED，简称"伟隆香港"）拟以自有资金在500万美元（折合人民 币约 3,500.00 万元）额度内认购香港开放式基金型公司SinoPro Global Opportunities Open-ended Fund Company 之子基金SinoProGlobal Opportunities Fund II 的投资基金份额。 ...

《方案》提出，到2027年底，培育不少于5家年营收50亿元以上的人力资源服务龙头机构；培育认定不 少于15家专精特新中小企业、创新型中小企业；组建不少于15个创新联合体；设立不少于15个人力资源 服务联络站；深圳市人力资源生态服务平台服务企业及个人总次数不少于300万，提供企业合规用工测 评工具及SaaS系统不少于5个；形成不少于15个以数智化推动人力资源服务业与制造业融合发展的典型 案例。 中国发展网讯 记者罗勉从深圳市人力资源和社会保障局了解到，该市多部门联合发布《深圳市人力资 源服务业与制造业融合发展试点工作实施方案》。未来三年，深圳将全力探索"人才链"与"产业链"深度 融合的创新路径，既为制造业转型升级注入"人才活水"，也为加速建设新型工业化、培育新质生产力装 上"人才引擎"，打造人才与产业融合发展的"深圳样本"。 《方案》围绕协同机制、政策支持、平台建设、人才培育等关键领域提出13项具体措施。在协同机制方 面，构建市直部门、市区协同联动服务体系，支持人力资源服务机构联合制造业企业、高校、科研院 所、技工学校以及行业协会，组建不少于15个创新联合体。 在政策支持上，加快推进"鹏城i业"公共就业服务能力 ...

四部门发文优化设备更新贷款财政贴息政策 财政部等四部门周二对外发布通知，明确优化实施设备更新贷款财政贴息政策。此次优化扩大了政策支 持范围，同时拓展了支持领域。在扩大支持范围方面，《通知》提到，经营主体实施设备更新行动且银 行向其发放贷款的，中央财政对经营主体的设备更新项目相关固定资产贷款本金贴息1.5个百分点，按 照相关固定资产贷款发放之日起予以贴息，贴息期限不超过2年。 LPR报价连续8个月保持不变 宏观要闻 民间投资专项担保计划出台 1月20日，财政部等四部门发布关于实施民间投资专项担保计划的通知。专项担保计划额度5000亿元， 分两年实施。《通知》提到，符合条件的中小微企业民间投资贷款可享受本专项担保计划支持，具体包 括用于支持购买设备及原材料、技术改造、中小企业数智化改造（含购买硬件设备和软件系统）、改扩 建厂房、店面装修、经营周转等生产经营活动，以及用于餐饮住宿、健康、养老、托育、家政、文化娱 乐、旅游、体育、绿色、数字、零售等消费领域场景拓展和升级改造的中长期贷款。 中国人民银行授权全国银行间同业拆借中心公布，2026年1月20日贷款市场报价利率(LPR)为：1年期 LPR为3.0%，5年期以上 ...

Economic Growth - In Q4 2025, the actual GDP grew by 4.5% year-on-year, matching expectations but down from 4.8% in the previous quarter[2] - The annual economic growth for 2025 was characterized by a high start and a low finish, influenced by policy timing and demand-supply dynamics[3] Industrial Production - The industrial added value in December 2025 increased by 5.2% year-on-year, slightly above the expected 5.0%[2] - High-tech manufacturing sectors showed growth rates significantly above the overall industrial average, indicating a shift in production structure[4] Consumer Spending - Retail sales of consumer goods in December 2025 grew by only 0.9% year-on-year, below the expected 1.0% and down from 1.3% in the previous month[2] - Service consumption outperformed goods consumption, with specific sectors like cultural and communication equipment showing stronger performance[5] Investment Trends - Fixed asset investment saw a cumulative year-on-year decline of 3.8% by December 2025, worse than the expected decline of 3.1%[2] - Real estate investment dropped significantly, with a year-on-year decline of 35.8%, indicating ongoing challenges in the sector[6] Future Outlook - The first quarter of 2026 is expected to see continued structural support from net exports, with potential stabilization in government-led investment projects[3] - Further policy measures are anticipated to support consumer spending and investment recovery in 2026[5][6]

2026年，湛江将继续把扩大有效投资作为推动经济高质量发展的重要抓手。会议披露，今年初步安排市 重点建设项目256个，年度计划投资658.7亿元。当前正全力推动包括雷州半岛灌区工程在内的77个项目 早日开工建设。 过去一年，湛江在重大战略项目推进上取得关键突破。备受关注的湛海跨海轮渡及线路工程可行性研究 报告已获国家发展改革委批复，雷州半岛灌区工程也获得广东省发展改革委批复。这两大项目的推进， 预计将为湛江未来发展带来可观的投资增量与战略支撑。 招商引资与投融资创新协同并进。去年湛江市举办系列招商活动，带动新增项目开工纳统数增长 4.7%。在资金保障方面，湛江积极争取中央政策性资金，并率先在全省建立"债贷联动"机制，拓宽了重 大项目融资渠道。 1月19日，湛江市委十二届十次全会暨市委经济工作会议召开。据会上消息，过去一年，湛江市在扩大 有效投资、优化投资结构方面成效显著，重点项目完成投资额突破800亿元，工业投资主导地位进一步 增强，一批关乎长远的重大基础设施项目获得关键性批复。 据悉，2025年湛江市476个重点项目完成投资801.7亿元，其中省重点项目完成投资560.3亿元，超额完成 年度目标任务。投资结 ...

Core Viewpoint - In 2025, China's fixed asset investment (excluding rural households) reached 48,518.6 billion yuan, a decrease of 3.8% compared to the previous year, with private investment declining by 6.4% [1][3]. Investment by Industry - Investment in the primary industry was 957 billion yuan, an increase of 2.3% year-on-year [3]. - Investment in the secondary industry was 177,368 billion yuan, growing by 2.5% [3]. - Investment in the tertiary industry was 298,248 billion yuan, showing a decline of 7.4% [3]. - Within the secondary industry, industrial investment increased 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%, with pipeline transportation investment increasing by 36.0% and multimodal transport and agency investment increasing by 22.9% [3]. Investment by Region - Investment in the eastern region decreased by 8.4%, the central region by 2.7%, the western region by 1.3%, and the northeastern region by 15.5% [3]. Investment by Registration Type - Domestic enterprises' fixed asset investment fell by 3.8%, investment from Hong Kong, Macau, and Taiwan enterprises decreased by 2.2%, and foreign enterprises' investment dropped by 13.8% [3][5].

Core Viewpoint - The industrial added value of large-scale industries in December 2025 experienced a year-on-year real growth of 5.2%, with a month-on-month increase of 0.49% compared to the previous month. The total growth for the year 2025 was 5.9% compared to the previous year [1]. Group 1: Industrial Growth by Sector - In December, the mining industry saw a year-on-year growth of 5.4%, manufacturing grew by 5.7%, and the production and supply of electricity, heat, gas, and water increased by 0.8% [3]. - By economic type, state-controlled enterprises had a year-on-year growth of 3.9%, joint-stock enterprises grew by 5.8%, foreign and Hong Kong, Macao, and Taiwan-invested enterprises increased by 2.7%, and private enterprises grew by 4.2% [3][7]. - Among 41 major industries, 33 maintained year-on-year growth in added value. Notable growth was seen in coal mining and washing (6.4%), oil and gas extraction (3.7%), and the manufacturing of chemical raw materials and products (8.0%) [3][7]. Group 2: Product Output and Sales - In December, out of 623 industrial products, 325 saw a year-on-year increase in output. Steel production was 115.31 million tons (down 3.8%), cement was 144.16 million tons (down 6.6%), and ten non-ferrous metals reached 7.21 million tons (up 4.9%) [4]. - The product sales rate for large-scale industrial enterprises was 98.2%, a decrease of 0.7 percentage points year-on-year. The export delivery value reached 1,493.2 billion yuan, reflecting a nominal year-on-year growth of 3.2% [4][5]. Group 3: Key Product Performance - In December, the production of automobiles was 3.412 million units (down 2.8%), with new energy vehicles accounting for 1.791 million units (up 8.7%) [4][5]. - The output of ethylene was 3.56 million tons (up 3.0%), while the crude oil processing volume was 6.246 million tons (up 5.0%) [4][5]. - The production of industrial robots increased by 14.7% year-on-year, indicating a strong growth trend in high-tech manufacturing [7].

图/IC 2025年，中国经济的答卷再次展现韧性。 1月19日，国家统计局发布的2025年经济数据显示，过去一年，我国GDP首次跃上140万亿元新台阶，比上年增长5.0%。在总量跃升的同时，2025年，全国 居民人均可支配收入约为4.34万元，增速同样达到5.0%。 宏观数字背后，体感温度不尽相同。难免有个别网友调侃，"我又拖后腿了"。于企业、个人而言，有人觉得"数字在增长，自己却没暖意"——规模以上工业 增加值在增长，但传统行业仍面临转型困境。年轻人认为找工作难度加大，居民收入赶不上"平均数"等。 为何宏观增长与微观感受之间存在"温差"？对此，官方层面曾进行回应。2023年，时任国家统计局国民经济综合统计司司长付凌晖表示，这主要是由宏观数 据的综合性和微观主体感受的局部性造成。比如大家感受较明显的消费价格，经常个体感觉消费价格涨得很高，但消费价格指数涨幅还是比较温和。其中很 重要的原因是消费价格数据采用了一揽子的代表性商品和服务进行综合统计，反映的是全社会消费价格变化，但具体到某个人，可能只消费了一揽子商品和 服务中的一部分。 哪些群体更能感受到经济回暖的脉搏？"温差"意味着我国经济处于新旧动能的转换期？宏 ...

Core Viewpoint - Wenzhou is emerging as a "slash city" with a projected GDP exceeding 1 trillion yuan by 2025, becoming China's 28th trillion-yuan city and the third in Zhejiang province, while accelerating its development as a national "AI demonstration application first city" [1][3]. Economic Growth and Development Goals - Wenzhou's GDP has grown at an average rate of 6.5% during the first four years of the 14th Five-Year Plan, moving from 30th to 28th in national GDP rankings, and its resident population increased from 9.57 million to 9.85 million [3]. - The city aims to enhance its urban circle capabilities and establish itself as a significant regional center in the southeast coastal area, with a focus on high-quality development [3][10]. Innovation and AI Development - Wenzhou is prioritizing innovation, with R&D expenditure growing by an average of 14% annually over the past five years, and the area of incubators expanding over tenfold to exceed 10 million square meters [6]. - The city plans to embed artificial intelligence across various sectors, including manufacturing, energy, healthcare, finance, and tourism, aiming to create a nationally recognized "AI demonstration application first city" [4][8]. Strategic Planning and Implementation - The city has outlined nine key tasks for the next five years, focusing on building a modern industrial system, expanding domestic demand, and enhancing the urban circle's development [6]. - Wenzhou aims to become a leading innovation source in the southeast coastal region, with a modern industrial cluster and a significant increase in the proportion of R&D expenditure relative to GDP [6][7]. Urban Circle and Regional Integration - Wenzhou is working to enhance the integration and development of its urban circle, aiming to connect with the Yangtze River Delta and the Guangdong-Hong Kong-Macao Greater Bay Area [10][11]. - The city is leveraging its unique advantages, including a global trade network, to extend its influence into Southeast Asia and other international markets [11].