21世纪经济报道 记者张旭 北京报道 2026年是"十五五"开局之年，近日举行的全国外资工作会议提出，推动外资固稳促优、加大力度开展外商投资促进工作。在新 的引外资形势下，投资促进机构、地方政府等，正持续创新和转变工作方式，以塑造吸引外资新优势。 2026年1月19日，由商务部投资促进事务局举办的中外投资促进机构工作会在北京召开。记者从会上了解到，今年将举办第26届 中国国际投资贸易洽谈会（以下简称"投洽会"），商务部还将与地方共同举办第14届中国中部投资贸易博览会（以下简称"中部 博览会"），共同打造中部崛起有效平台。 商务部还将积极参与进博会、东盟博览会等其他重大展会活动，东盟产业园区招商、投资合作圆桌会、招商会客厅、相关产业 对接等一系列配套活动将随之展开。 会议现场。拍摄：张旭 今年将举办第26届投洽会 记者从商务部了解到，2025年1-11月，全国新设立外商投资企业61207家，同比增长16.9%，11月当月实际使用外资同比增长 26.1%。 商务部投资促进事务局国内联络部（开发区促进办公室）主任朱文龙介绍，今年商务部投资促进事务局初步设计策划了80场次 招商引资活动，包括境内外展会及相关活动20场 ...

值得关注的是，高技术产业成为投资亮点，信息服务业投资激增28.4%，航空、航天器及设备制造业投资也实现16.9%的增长。这些数据充分体现 了科技创新在推动经济增长中的重要作用，也为未来发展注入了新的动能。 从月度数据来看，12月份固定资产投资（不含农户）环比下降1.13%，反映出年末投资活动存在一定的季节性波动。这种现象可能与资金结算、 项目收尾等因素有关，也反映出当前经济环境下投资决策的谨慎态度。 综合来看，2025年中国固定资产投资呈现出"总量承压、结构优化"的特点。传统领域面临深度调整，而新兴领域则表现出强劲的发展势头。这种 结构性分化为政策制定者提供了重要参考，未来需进一步关注传统与新兴之间的平衡，以推动投资结构的持续优化。 从主要投资领域来看，基础设施投资同比下降2.2%，反映出公共项目推进节奏有所放缓；而制造业投资则实现0.6%的增长，显示出产业升级的持 续动力。相比之下，房地产开发投资大幅下滑17.2%，成为影响整体投资的重要因素。与此同时，商品房市场同样承压，新建商品房销售面积减 少8.7%，销售额下降12.6%。 从三次产业的角度看，第一产业投资增长2.3%，第二产业投资增长2.5%，第三产 ...

1月19日，国家统计局发布数据显示，2025年国内生产总值1401879亿元，按不变价格计算，比上年增长 5.0%，圆满完成年初制定的目标。 本报（chinatimes.net.cn）记者张智 北京报道 "十四五"收官之年，我国交出了一份漂亮的"成绩单"。 同时，2025年的"成绩单"，也意味着"十四五"时期，我国接连大踏步跨上110万亿元、120万亿元、130 万亿元、140万亿元的台阶，不仅第二个百年奋斗目标新征程实现良好开局，也为"十五五"经济发展奠 定了良好的基础。 "展望2026年，伴随更加积极有为的宏观政策持续加力，今年消费将进一步提速，投资会止跌回稳，全 年GDP同比增速有望达到4.8%左右，物价水平偏低状况趋于改善。"东方金城首席宏观分析师王青对 《华夏时报》记者表示。 "向新而行"特征鲜明 从数据来看，我国多项经济指标向好。 "顶压前行、向新向优。"国家统计局局长康义在评价2025年中国经济运行情况时这样总结道。 面对外部环境急剧变化，国内困难挑战增多的复杂严峻形势，我国实施更加积极有为的宏观政策，不仅 有效化解外部环境变化的不利影响，更在风浪中稳住了发展的底盘、巩固了发展的根基。这一年，我 ...

21世纪经济报道记者 周潇枭 北京报道 1月19日，国家统计局发布2025年全年经济数据。 （国新办发布会现场图，拍摄：周潇枭） 初步核算，全年国内生产总值140.19万亿元，按不变价格计算，比上年增长5.0%。分季度看，一季度国内生产总值同比增长 5.4%，二季度增长5.2%，三季度增长4.8%，四季度增长4.5%。 在全球需求偏弱、外部不利影响加深等背景下，2025年我国经济同比增长5%，顺利完成年初5%左右的增长目标，充分展示我国 经济发展的韧性和活力。与此同时，我国经济结构在不断优化升级，高新技术产业保持较快增长；内需潜力不断释放，文旅、 赛事等服务消费多点开花。多项宏观政策已经靠前发力，旨在推动2026年一季度实现良好开局。 1月19日，国家统计局局长康义在国新办发布会上表示，国务院常务会议部署实施财政金融协同促内需的一揽子政策，有关部门 加快贯彻落实，推进扩大内需；"两新"政策不断优化，首批资金已经提前下达，这些都为2026年经济起步创造了有利条件。 迈上140万亿元新台阶 2025年，我国国内生产总值首次跃上140万亿元新台阶，比上年增长5.0%；城镇调查失业率平均值是5.2%，就业保持总体稳定 ...

Group 1: Electric Equipment Sector - The electric equipment sector experienced a significant surge, with multiple stocks hitting the daily limit, including TBEA (特变电工) which closed at a limit up and had a total trading volume of 21.88 billion yuan, leading the A-share market in trading volume [1][2] - The State Grid announced that during the 14th Five-Year Plan period, fixed asset investment is expected to reach 4 trillion yuan, a 40% increase compared to the previous plan, aimed at building a new power system [3] - CITIC Securities indicated that the average annual investment by the State Grid during the 14th Five-Year Plan will reach 800 billion yuan, significantly higher than the previous plan's 650 billion yuan, focusing on ultra-high voltage and cross-regional transmission investments [4] Group 2: Aerospace Sector - The aerospace sector saw a rise, with stocks like AVIC (中航机载) and Aviation Power (航发动力) hitting the daily limit, following the successful landing of the Shenzhou 20 spacecraft [6] - The global aerospace industry is undergoing a paradigm shift towards increased privatization, with China's policy support expected to evolve from infrastructure development to guiding industry exploration in frontier areas [7] Group 3: Stock Performance - Fenglong Co. (锋龙股份) resumed trading and hit the daily limit again, marking its 14th consecutive limit-up, with a total increase of approximately 280% [8] - The company announced that its stock price has significantly deviated from its fundamentals, indicating potential risks of market overheating and irrational speculation [8]

Core Insights - The total fixed asset investment in China for 2025 is projected to be 48,518.6 billion yuan, reflecting a decrease of 3.8% compared to the previous year [1] - Excluding real estate development investment, the overall fixed asset investment has decreased by 0.5% [1] Investment Breakdown - Infrastructure investment has declined by 2.2% [1] - Manufacturing investment has seen a slight increase of 0.6% [1] - Real estate development investment has significantly decreased by 17.2% [1] Real Estate Market - The sales area of newly built commercial housing reached 88,101 million square meters, down by 8.7% [1] - The sales revenue from newly built commercial housing amounted to 83,937 billion yuan, a decline of 12.6% [1] Sector Performance - Investment in the primary industry has increased by 2.3% [1] - Investment in the secondary industry has grown by 2.5% [1] - Investment in the tertiary industry has decreased by 7.4% [1] Private Investment Trends - Private investment has decreased by 6.4% [1] - Excluding real estate development investment, private investment has declined by 1.9% [1] High-Tech Industry - In high-tech industries, investment in information services has surged by 28.4% [1] - Investment in aerospace and aircraft manufacturing has increased by 16.9% [1] Monthly Trends - In December, fixed asset investment (excluding rural households) experienced a month-on-month decline of 1.13% [1]

Core Insights - The global external environment for foreign investment has tightened, leading to a certain degree of value chain restructuring, yet China's resilience in attracting foreign investment remains strong, making it a favored destination for foreign capital [1] Group 1: Foreign Investment Trends - In the first 11 months of 2025, a total of 61,207 new foreign-invested enterprises were established in China, representing a growth of 16.9% compared to the previous period [6][7] - By the end of June 2025, China's actual foreign investment utilization reached $708.73 billion, surpassing the target of $700 billion six months ahead of schedule [10][12] - The actual foreign investment in China's high-tech industries during the first 11 months of 2025 amounted to 221.26 billion yuan, indicating a significant influx of foreign capital into sectors aligned with China's economic transformation [15][17] Group 2: Sector-Specific Growth - The structure of foreign investment in China is continuously improving, with notable increases in specific sectors: - E-commerce services grew by 127% - Medical instruments and equipment manufacturing increased by 46.5% - Aerospace manufacturing rose by 41.9% [20] Group 3: R&D Investment by Multinational Corporations - According to a report by the Ministry of Commerce Research Institute, from 2013 to 2023, R&D expenditures by multinational companies in China increased by 86.5%, reflecting a shift from technology transfer and contract manufacturing to joint R&D and collaborative industrial ecosystem building [23]

Economic Overview - Nanjing's economy has shown signs of recovery in 2023, with a focus on implementing central and provincial government policies to stabilize and promote growth [1] Industrial Performance - From January to November, the city's industrial added value increased by 5.8% year-on-year, with state-owned enterprises growing by 7.8%, joint-stock enterprises by 9.3%, and private enterprises by 10.7% [1] - Key sectors such as instrument manufacturing, general equipment manufacturing, and specialized equipment manufacturing saw year-on-year growth of 13.5%, 10.3%, and 10.1% respectively [1] - Notable product outputs included 3D printing equipment (up 21.4%), industrial robots (up 27.3%), new energy vehicles (up 59.1%), and integrated circuit products (up 30.6%) [1] Consumer Market - The total retail sales of consumer goods reached 739.55 billion yuan from January to November, reflecting a year-on-year growth of 3.9% [1] - Essential consumer goods such as grain and oil, and daily necessities showed strong growth, increasing by 11.5% and 4.2% respectively [1] - There was significant growth in discretionary spending categories, with cultural and office supplies up 19.5%, communication equipment up 26.5%, jewelry up 14.1%, and sports and entertainment goods up 3.6% [1] Fixed Asset Investment - Fixed asset investment decreased by 4.2% year-on-year, but the decline was less severe than in the previous months, narrowing by 1.0 percentage point [2] - Infrastructure investment grew by 4.3%, while manufacturing investment increased by 11.9% [2] - High-tech industry investments rose by 9.3%, with aerospace equipment manufacturing, computer and office equipment manufacturing, and medical instruments and equipment manufacturing seeing increases of 45.9%, 21.5%, and 23.7% respectively [2] Consumer Price Index - In November, the consumer price index rose by 0.4% year-on-year, an increase of 0.3 percentage points from the previous month [2] - Price changes varied by category, with food and tobacco prices down 0.8%, clothing prices up 2.1%, and living supplies and services up 1.6% [2] - Overall, the consumer price index decreased by 0.3% from January to November [2]

Core Insights - The actual use of foreign capital in China has shown a V-shaped growth trend over the past three years, with November's year-on-year growth rate reaching a 45-month high [1][10][22] Group 1: Foreign Investment Statistics - In the first 11 months of 2025, 61,207 new foreign-invested enterprises were established, a year-on-year increase of 16.9%, while the actual use of foreign capital amounted to 693.18 billion RMB, a decrease of 7.5% [1][21] - The actual use of foreign capital in November 2025 was 71.25 billion RMB, reflecting a year-on-year growth of 26.1%, marking the highest growth rate since February 2022 [1][10] - In 2024, the actual use of foreign capital decreased by 27.9% compared to the same period in 2023 [1][21] Group 2: Sector-Specific Investment - In 2025, the manufacturing sector attracted 171.72 billion RMB, while the service sector attracted 506.29 billion RMB. High-tech industries received 221.26 billion RMB, with significant growth in e-commerce services (127%), medical equipment (46.5%), and aerospace manufacturing (41.9%) [2][12] - E-commerce services have consistently shown high growth in foreign investment, with year-on-year increases of 100.5% in the first three months, 127.1% in the first six months, and 155.2% in the first nine months of 2025 [2][12] Group 3: Investment Sources - Major sources of foreign investment in 2025 included Switzerland, the UAE, and the UK, with respective growth rates of 67%, 47.6%, and 19.3% [3][14] - In the first half of 2025, investment from ASEAN countries grew by 8.8%, while investments from Switzerland, Japan, the UK, Germany, and South Korea increased by 68.6%, 59.1%, 37.6%, 6.3%, and 2.7% respectively [4][15] Group 4: Market Dynamics and Future Outlook - The global capital flow is benefiting from the transition of the US dollar from a rate hike to a rate cut cycle, which is favorable for developing countries like China [3][13] - The continuous optimization of the business environment and the reduction of foreign investment barriers in China are enhancing its attractiveness to international capital [17][22] - Companies like Helion are committed to long-term investments in China, focusing on innovation and expanding their market presence [17][22]

Economic Overview - The city's economy continues to show overall stability and improvement, with a focus on stabilizing employment, enterprises, markets, and expectations [1] Industrial Production - In November, the city's industrial added value above designated size grew by 9.2% year-on-year, with a cumulative growth of 8.8% from January to November [1] - Among 38 major industrial categories, 26 reported growth, expanding the growth coverage to 68.4%, an increase of 10.5 percentage points from the previous month [1] - The seven leading industries contributed significantly, with their added value increasing by 9.9%, driving an overall industrial growth of 8.2 percentage points [1] - The manufacturing sector saw an increase in added value of 9.6%, accelerating by 0.3 percentage points compared to the previous month [1] Fixed Asset Investment - From January to November, fixed asset investment in the city grew by 4.0% year-on-year [2] - Investment in projects worth over 100 million yuan increased by 12.5%, contributing 6.7 percentage points to overall investment growth [2] - Private investment rose by 9.4%, outpacing the overall investment growth by 5.4 percentage points, and has consistently exceeded the overall growth rate since May of the previous year [2] - Industrial investment surged by 26.2%, maintaining over 20% growth for 11 consecutive months, contributing 5.8 percentage points to total investment growth [2] - Investment in new industries, such as computer and office equipment manufacturing, and aerospace equipment manufacturing, grew by 29.4% and 18.4% respectively [2] Market Sales - In November, the total retail sales of social consumer goods reached 57.7 billion yuan, a year-on-year increase of 3.7% [2] - From January to November, total retail sales amounted to 608.85 billion yuan, with a year-on-year growth of 5.2% [2] - Over 70% of the 21 categories of goods in above-limit units saw retail growth, with significant demand for upgraded products [2] - Retail sales of wearable smart devices and smartphones surged by 94.1% and 91.4% respectively, accelerating by 49.7 and 27.2 percentage points compared to the previous month [2] Industrial Quality Improvement - The "Two Heavy" and "Two New" policies are showing positive effects, with the added value of equipment manufacturing in November increasing by 14.5%, outpacing the overall industrial growth rate by 5.3 percentage points [3] - Investment in equipment and tools grew by 6.1% year-on-year, exceeding the overall investment growth rate by 2.1 percentage points [3] - Retail sales of photographic and communication equipment surged by 320.3% and 78.9% respectively in November [3] - The added value of high-tech manufacturing increased by 24.8%, accelerating by 4.4 percentage points compared to the previous month [3] - Strategic emerging industries in the industrial sector saw an added value growth of 18.5%, contributing 7.9 percentage points to overall industrial growth [3] - The added value of high-tech industries grew by 13.1%, with an acceleration of 2.3 percentage points from the previous month [3] - The modern service industry also performed well, with significant revenue growth in broadcasting, television, film, and related services [3]