National Bureau of Statistics (NBS): Fixed asset investment nationwide increased by 1.6% from January to July

According to data from the National Bureau of Statistics (NBS), from January to July 2025, China's total fixed-asset investment (excluding rural households) reached 28,822.9 billion yuan, up 1.6% YoY. By sector, investment in the primary sector was 564.6 billion yuan, up 5.6% YoY; investment in the secondary sector was 10,445.5 billion yuan, up 8.9% YoY; and investment in the tertiary sector was 17,812.8 billion yuan, down 2.3% YoY.

From January to July 2025, China's total fixed-asset investment (excluding rural households) reached 28,822.9 billion yuan, up 1.6% YoY (calculated on a comparable basis). Among this, private fixed-asset investment was down 1.5% YoY. On a MoM basis, fixed-asset investment (excluding rural households) was down 0.63% in July.

By sector, investment in the primary sector was 564.6 billion yuan, up 5.6% YoY; investment in the secondary sector was 10,445.5 billion yuan, up 8.9% YoY; and investment in the tertiary sector was 17,812.8 billion yuan, down 2.3% YoY.

In the secondary sector, industrial investment was up 9.0% YoY. Among this, investment in mining was up 3.0% YoY, investment in manufacturing was up 6.2% YoY, and investment in the production and supply of electricity, heat, gas, and water was up 21.5% YoY.

In the tertiary sector, infrastructure investment (excluding the production and supply of electricity, heat, gas, and water) was up 3.2% YoY. Among this, investment in water transport was up 18.9% YoY, investment in water conservancy management was up 12.6% YoY, and investment in railway transport was up 5.9% YoY.

By region, investment in the eastern region was down 2.4% YoY, investment in the central region was up 3.2% YoY, investment in the western region was up 3.6% YoY, and investment in north-east China was down 3.0% YoY.

By registration type, fixed-asset investment by domestic enterprises was up 1.7% YoY, fixed-asset investment by enterprises from Hong Kong, Macao, and Taiwan was up 3.5% YoY, and fixed-asset investment by foreign enterprises was down 15.7% YoY.