Economic Growth - Beijing's GDP for the first three quarters reached 38,415.9 billion RMB, with a year-on-year growth of 5.6% [1] - The primary industry saw a decrease in value added by 1.1%, while the secondary industry grew by 4.0% to 5,055.9 billion RMB, and the tertiary industry increased by 5.8% to 33,282.0 billion RMB [1] Sector Performance - The information transmission, software, and IT services sector achieved a value added of 9,225.5 billion RMB, growing by 11.2%, contributing significantly to the tertiary industry's growth [1] - The financial sector's value added reached 6,700.0 billion RMB, with a growth rate of 9.0%, together with the information sector, accounting for nearly 80% of the tertiary industry's growth [1] - The rental and business services sector grew by 3.9% to 2,114.8 billion RMB, while transportation, warehousing, and postal services increased by 7.9% to 1,056.0 billion RMB [1] Investment and Consumption - Fixed asset investment in Beijing (excluding rural households) grew by 9.0%, with equipment purchase investment surging by 83.1%, now accounting for 29.3% of total fixed asset investment [2] - Total market consumption in Beijing increased by 0.5%, driven by a 4.8% rise in service consumption, while retail sales of consumer goods totaled 9,803.1 billion RMB, declining by 5.1% [2] - The per capita disposable income of Beijing residents reached 67,206 RMB, marking a growth of 4.5%, with a real growth of 4.9% after adjusting for price factors [2]

Economic Growth - Shanghai's GDP for the first three quarters of 2025 reached 40,721.17 billion yuan, with a year-on-year growth of 5.5%, surpassing the national average by 0.3 percentage points [1][2] - The primary industry added value was 64.26 billion yuan, growing by 0.9%; the secondary industry added value was 8,448.67 billion yuan, growing by 3.9%; and the tertiary industry added value was 32,208.24 billion yuan, growing by 5.9% [1] Industrial Performance - The industrial added value in Shanghai increased by 5.2% year-on-year, with the total output value of above-scale industries growing by 5.7%, an increase of 0.1 percentage points compared to the first half of the year [1] - The three leading industries in manufacturing saw an output value growth of 8.5%, outpacing the overall growth of above-scale industrial output value by 2.8 percentage points [1] Tertiary Sector Insights - The tertiary sector's added value grew by 5.9% year-on-year, with significant contributions from the information transmission, software, and IT services sector, which saw a 15.5% increase in added value [1] - The financial sector's added value reached 6,965.27 billion yuan, growing by 9.8%, while transportation, storage, and postal services increased by 5.2% [1] Investment and Consumption - Fixed asset investment in Shanghai increased by 6.0% year-on-year, while the total retail sales of social consumer goods reached 12,302.77 billion yuan, growing by 4.3%, with an acceleration of 2.6 percentage points compared to the first half of the year [2] - The average urban survey unemployment rate in Shanghai was 4.2% [2] Financial Market and Budget - The transaction volume in major financial markets in Shanghai grew by 12.7% year-on-year [2] - Local general public budget revenue was 6,555.68 billion yuan, a 1.0% increase, while expenditures rose by 8.0% to 6,876.39 billion yuan [2]

根 据 有 关 基 础 资 料 和 国 内 生 产 总 值 （ G D P ） 核 算 方 法 ， 经 初 步 核 算 ， 我 国 2 0 2 5 年 三 季 度 G D P 核 算 结 果 如 下 。 | | 绝对额(亿元) | | 比上年同期增长(%) | | | --- | --- | --- | --- | --- | | | 三季度 | 前三季度 | 三季度 | 前三季度 | | GDP | 354500 | 1015036 | 4.8 | 5.2 | | 第一产业 | 26889 | 58061 | 4.0 | 3.8 | | 第二产业 | 124970 | 364020 | 4.2 | 4.9 | | 第三产业 | 202641 | 592955 | 5.4 | 5.4 | | 农林牧渔业 | 28401 | 61626 | 4.1 | 4.0 | | T.V. | 103453 | 306004 | 5.8 | 6.1 | | #制造业 | 84866 | 254751 | 6.3 | 6.5 | | 建筑业 | 22473 | 60683 | -2.3 | -0.5 | | 批发和零售业 | ...

二、工业生产增势较好，高端制造引领增长 央视网消息：据北京市统计局消息，前三季度，北京全市坚决贯彻落实党中央、国务院决策部署， 坚持稳中求进工作总基调，着力落实稳经济一揽子政策措施，总体经济呈现"一季度开局良好，二、三 季度增势稳定"特征。主要领域中，工业、投资较快增长，服务业重点行业增速提高，就业物价保持稳 定，居民收入稳步增加，新质生产力不断培育壮大，高质量发展迈出坚实步伐。 根据地区生产总值统一核算结果，全市实现地区生产总值38415.9亿元，按不变价格计算，同比增 长5.6%。分产业看，第一产业实现增加值77.9亿元，下降1.1%；第二产业实现增加值5055.9亿元，增长 4.0%；第三产业实现增加值33282.0亿元，增长5.8%。 一、农业生产保持稳定，种业收入两位数增长 前三季度，全市实现农林牧渔业总产值165.7亿元，同比下降0.4%（按可比价格计算，下同）。其 中，实现农业（种植业）产值88.5亿元，受极端天气影响，下降0.8%，蔬菜（含食用菌）播种面积和产 量分别增长3.7%和4.7%；实现林业产值37.3亿元，下降13.6%；实现牧业产值30.1亿元，增长11.9%，生 猪、牛、禽出栏量 ...

从主要经济指标来看，三季度的工业、服务业、社会消费品零售总额、投资等增速较上半年 均有所回落，出口增速与上半年持平。三季度经济增速较二季度回落0.4个百分点，主要在 于内需偏弱，受多重因素影响投资和消费增速走低，外需依然维持相当韧性。 从月度数据来看，9月以人民币计价的出口同比增长8.4%，增速较上月明显回升，进而带动 9月规模以上工业增加值增速出现好转、服务业生产指数增速与上月持平。但是，9月当月 投资、消费增速仍在持续回落。 9月底以来，我国推出"两个5000亿"的稳增长政策，分别是5000亿元新型政策性金融工具和 5000亿元地方债结存限额，致力于扩大有效投资、加大地方化债力度、缓解地方财政收支 矛盾等，有助于推动投资增速的回升和有效需求的扩大。 前三季度经济增长5.2%，为全年5%左右的增长目标奠定良好基础。市场对四季度稳增长政 策进一步加码依然存在期待，包括进一步降准降息、推动房地产市场止跌回稳等。 高技术产业供需两旺 前三季度全国规模以上工业增加值同比增长6.2%，较上半年增速回落0.2个百分点，工业生 产总体保持稳定。从月度趋势来看，9月规模以上工业增加值同比增长6.5%，较7、8月份有 所回升 ...

Group 1: Economic Overview - Japan's economy is facing complex challenges, including a depreciating yen, inflation issues, and the impact of an aging population [1][2] - The nominal GDP of Japan, when converted to USD, remains below Germany's, ranking fourth in the world economy [2] - Economic recovery is supported by improved employment conditions, increased investment demand, and growth in tourism and exports, but external pressures such as U.S. trade protectionism and global supply chain disruptions pose significant risks [2] Group 2: Industry Insights - Japan's manufacturing sector has faced disruptions due to natural disasters, leading to risks in supply chains for machinery, electronic components, and the automotive industry [3] - The service sector is showing signs of recovery, particularly in retail and dining, while the digital transformation is benefiting information and communication services [3] - The Japanese government is implementing policies to enhance economic security, promote green transformation, and accelerate digitalization in industries [3] Group 3: Sino-Japanese Economic Relations - Despite a decrease in Japan's direct investment in China, the Chinese market remains crucial for Japanese companies [4] - The RCEP framework is facilitating deeper economic cooperation between China and Japan, with opportunities for collaboration in areas like the "silver economy," carbon neutrality, and digital economy [4] - Both countries can work together to address trade protectionism and maintain regional supply chain stability [4] Group 4: AI and Technological Development - The rise of generative AI is driving global industrial transformation and altering competitive dynamics [5] - Japan is focusing on developing its generative AI capabilities, although it faces challenges in cloud services, local model competitiveness, and talent availability [5] - Future strategies should balance domestic development and international cooperation, particularly with China, to enhance Japan's international competitiveness [5]

探索安全与效率并重的增长模式 当前，新一轮科技革命正以前所未有的广度和深度，不断影响甚至重塑全球经济和政治格局。同样，以 人工智能为代表的金融科技，不仅改变着金融服务的形态与逻辑，也在持续打破传统金融业的竞争壁 垒，推动金融业的竞争范式实现深度变革。 近日，在全球财富管理论坛·2025上海苏河湾大会上，专家学者齐聚一堂，对人工智能发展趋势及科技 赋能金融业发展等话题展开了探讨。 楼继伟举例称，以新能源汽车产业为例，其成功实践了"技术自主、供应链多元、市场全球"的立体化策 略。一方面，上半年出口量占全球市场份额的42%，动力电池国产化率超95%；另一方面，产业链中的 关键材料则通过全球化合作实现多元供应，既保障了供应链安全，又深度融入全球市场和产业生态，彰 显了中国仍是全球产业链和市场互利共赢的重要力量。 十四届全国人大常委、财经委副主任史耀斌进一步表示，中国在拥抱新技术革命的道路上凭借强大的制 造能力、超大的市场规模，推动了新技术快速产业化、加速迭代，形成了发展优势和增量财富。比如说 我们构建了全球最大、发展最快的可再生能源体系，形成了全球最大、最完整的新能源产业链，持续打 造相关数据要素的应用场景，拉动了国 ...

Core Viewpoint - The GDP growth for Q3 2025 is reported at 4.8%, a decrease of 0.4 percentage points from the previous quarter, but the overall economic development remains stable and progressive [1] - The GDP growth for the first three quarters of the year is 5.2%, exceeding the government's target of around 5% for the year, laying a solid foundation for achieving the annual goal [1] Supply Side Analysis - Industrial production has accelerated, with the cumulative industrial added value from January to September growing by 6.2%, which is 0.4 percentage points higher than the same period last year [1] - In September, the industrial added value increased by 6.5%, up 1.3 percentage points from August [1] - The strong performance in exports and the implementation of policies to expand domestic demand, such as the "two new" policies, have contributed to the rapid growth of high-tech manufacturing and equipment manufacturing sectors [4] Demand Side Analysis - The total retail sales of consumer goods increased by 4.5% year-on-year in the first three quarters, but the growth rate in September fell to 3.0%, indicating weak recovery momentum [5][7] - Fixed asset investment decreased by 0.5% year-on-year from January to September, marking a significant slowdown [7][9] - Manufacturing investment grew by 4.0%, but this represents a decline of 1.1 percentage points compared to the previous months, continuing a six-month downward trend [9][10] Policy Measures - The government has introduced measures to stimulate investment, including the issuance of 500 billion yuan in new policy financial tools and the activation of 500 billion yuan in local government debt limits [10] - A series of consumer support policies have been rolled out, including childcare subsidies and personal consumption loans, which are expected to boost future consumption recovery [10] Economic Outlook - Analysts predict that the GDP growth rate for Q4 could reach around 4.7%, allowing for the achievement of the annual growth target of approximately 5% [11][12] - The internal driving force for economic growth is expected to strengthen, supported by structural monetary policy tools and the stabilization of the real estate market [11]

根据有关基础资料和国内生产总值（GDP）核算方法，经初步核算，我国2025年三季度GDP核算结果 如下。 表1 2025年三季度GDP初步核算数据 1.绝对额按现价计算，增长速度按不变价计算； 2.三次产业分类依据国家统计局2018年修订的《三次产业划分规定》； 3.行业分类采用《国民经济行业分类（GB/T 4754－2017）》； 4.本表GDP总量数据中，有的不等于各产业（行业）之和，是由于数值修约误差所致，未作 机械调整。 点击下载：相关数据表 表2 GDP同比增长速度 单位：% | 年份 | 1季度 | 2季度 | 3季度 | 4季度 | | --- | --- | --- | --- | --- | | 2020 | -6.8 | 3.2 | 4.9 | 6.5 | | 2021 | 18.9 | 8.1 | 5.5 | 4.5 | | 2022 | 4.8 | 0.8 | 4.0 | 3.0 | | 2023 | 4.7 | 6.5 | 5.0 | 5.3 | | 2024 | 5.3 | 4.7 | 4.6 | 5.4 | | 2025 | 5.4 | 5.2 | 4.8 | | 注：同比增长速 ...

21世纪经济报道记者周潇枭 北京报道10月20日，国家统计局发布三季度经济数据。 初步核算，前三季度国内生产总值101.5万亿元，按不变价格计算，同比增长5.2%。分季度看，一季度 同比增长5.4%，二季度增长5.2%，三季度增长4.8%。从环比看，三季度GDP增长1.1%。 （2024年以来我国GDP季度增速图，数据来源：国家统计局） 我国工业结构不断优化，新质生产力加快培育壮大。前三季度规模以上装备制造业增加值同比增长 9.7%，汽车、电气机械、电子等行业增速均超过10%。前三季度规模以上高技术制造业增加值同比增长 9.6%，集成电路制造、电子专用材料制造、生物药品制造等行业增加值维持两位数的高增长。 前三季度服务业增加值同比增长5.4%，较上半年回落0.1个百分点，服务业增势总体稳定。随着人工智 能应用的加快落地，前三季度信息技术等现代服务业增势较好；暑期居民旅游和休闲运动需求集中释 放，对三季度服务消费有一定支撑；资本市场交易维持活跃，对金融业有一定带动作用。 前三季度社会消费品零售总额同比增长4.5%，较上半年增速回落0.5个百分点。消费品以旧换新政策对 手机、家电、汽车等重点商品带动作用依然明显， ...