In 2025, China’s fixed asset investment decreased by 3.8% year-on-year, with mining investment up 2.5% and manufacturing up 0.6%.

In 2025, China’s fixed asset investment decreased by 3.8% year-on-year, with mining investment up 2.5% and manufacturing up 0.6%.

Throughout 2025, the nationwide decline in fixed asset investment further expanded compared to previous values. However, within the secondary industry, industrial investment increased by 2.6% year-on-year, with mining investment up 2.5% and manufacturing investment up 0.6%.

On January 19, data released by the National Bureau of Statistics showed that in 2025, nationwide fixed asset investment (excluding households) reached 48,518.6 billion yuan, a decrease of 3.8% year-on-year. Of this, private fixed asset investment dropped by 6.4% compared to the previous year. Month-on-month, fixed asset investment (excluding households) decreased by 1.13% in December.

By industry: Investment in the primary industry was 957 billion yuan, an increase of 2.3% year-on-year; investment in the secondary industry was 17,736.8 billion yuan, up 2.5%; investment in the tertiary industry was 29,824.8 billion yuan, down 7.4%.

Within the secondary industry, industrial investment rose 2.6% year-on-year. Of this, mining investment increased by 2.5%, manufacturing investment increased by 0.6%, and investment in electricity, heat, gas, and water production and supply grew by 9.1%.

Within the tertiary industry, infrastructure investment (excluding electricity, heat, gas, and water production and supply) declined by 2.2% year-on-year. Of this, pipeline transportation investment increased by 36.0%, multimodal transport and transportation agency investment rose by 22.9%, and water transport investment grew by 7.7%.

By region: Investment in the eastern region fell by 8.4% year-on-year, the central region declined by 2.7%, the western region dropped by 1.3%, and the northeastern region decreased by 15.5%.

By type of registration: Fixed asset investment by domestic enterprises decreased by 3.8% compared to the previous year, investment by Hong Kong, Macao, and Taiwan enterprises fell by 2.2%, and investment by foreign enterprises dropped by 13.8%.

Risk warning and disclaimerThe market carries risks, and investment requires caution. This article does not constitute personal investment advice, nor does it take into account the individual investment objectives, financial situation, or needs of specific users. Users should consider whether any opinions, views, or conclusions in this article are suitable for their particular circumstances. Investing based on this article is at your own risk.