China's fixed-asset investment went down 3.8 percent year on year in 2025, data from the National Bureau of Statistics (NBS) showed Monday.
At a press conference introducing the performance of China's national economy in 2025, Kang Yi, head of the NBS, provided detailed figures.
"In 2025, the investment in fixed assets (excluding rural households) reached 48,518.6 billion yuan (about 6.96 trillion U.S. dollars), down by 3.8 percent over the previous year. The investment in fixed assets was down by 0.5 percent with the investment in real estate development deducted," said Kang.
"Breaking down the figures in sectors, the investment in infrastructure dropped by 2.2 percent, manufacturing went up by 0.6 percent, and real estate development went down by 17.2 percent. The floor space of newly-built commercial housing sold was 881.01 million square meters, down by 8.7 percent; and the total sales of newly-built commercial housing were 8,393.7 billion yuan (about 1.2 trillion U.S. dollars), down by 12.6 percent," he said.
"In terms of industries, the investment in the primary industry went up by 2.6 percent; that in the secondary industry down by 2.5 percent; and that in the tertiary industry down by 7.4 percent. Private investment went down by 6.4 percent. Excluding the investment in real estate development, private investment dropped by 1.9 percent. Regarding the high-tech industries, the investment in information service, and the manufacturing of aerospace vehicles and equipment grew by 28.4 percent and 16.9 percent, respectively. In December, the investment in fixed assets (excluding rural households) declined by 1.13 percent month on month," said Kang.
China's fixed-asset investment down 3.8 pct in 2025
Emergency response measures have been launched after a cold wave swept across much of China since Sunday, leaving many areas blanketed in snow, with authorities issuing further weather alerts warning of freezing temperatures across multiple regions of the country.
The National Meteorological Center continued to issue a yellow alert -- the third level of its four-tier systerm -- on Sunday afternoon, with relevant authorities activating various emergency measures.
The cold wave has triggered heavy rain and snow in north China and the Huanghuai region, an expansive geographical area that also encompasses the central Henan and the eastern Anhui, Jiangsu, and Shandong provinces.
The capital city of Beijing was hit by its first bout of snowfall of the year from Saturday evening through to Sunday morning, with seven districts across the city issuing blizzard warnings. Local transport and sanitation departments deployed staff and machinery to quickly carry out snow removal operations.
Snowfall was also seen in many other parts of north China's Hebei Province, with multiple expressway sections temporarily affected. Traffic police and road maintenance departments have been conducting continuous de-icing and snow-clearing work to ensure road safety.
In the northern municipality of Tianjin, temperatures dropped sharply, leading to icy conditions on some roads. Local authorities organized personnel to clear bridges, culverts, and interchange ramps to reduce the impact on traffic.
The Ministry of Transport has also strengthened dynamic monitoring of road network operations, and coordinated transport authorities in nine provincial-level regions to enhance risk assessment, reinforce proactive prevention measures, and improve travel guidance.
The extent of the cold snap can be seen in the Liaodong Bay of the Bohai Sea, where over 20 percent of the sea surface has been covered by floating ice, some of which is said to be up to 20 centimeters thick.
Maritime authorities have sent out icebreaking ships to clear sailing pathways and have implemented graded vessel scheduling to ensure navigation safety and the smooth transport of key supplies amid the cold spell.
According to the National Meteorological Center's forecasts on Sunday, the main body of the cold wave will continue moving southward, with the most intense period of rain and snow expected on Tuesday.
Heavy snow or blizzards are forecast in a number of more northern and eastern regions of China, while freezing rain is expected to impact provincial-level regions including the central Henan, Hubei, Hunan provinces as well as Guizhou and the Chongqing Municipality in the country's southwest.
The National Disaster Prevention, Reduction, and Relief Commission on Sunday activated a national emergency response for freezing rain, snow, and icy conditions stretching as far as Hunan and Guizhou.
A central government work team has already been dispatched to Henan, while additional teams have now been sent to Hunan and Guizhou to support local prevention and response efforts.
Authorities at all levels have been instructed to safeguard key sectors including transportation, power supply, communications, and public services, strengthen the pre-positioning of rescue teams, supplies, and equipment, and carry out timely de-icing, snow removal, and emergency repairs.
Emergency response in place as cold wave sweeps across China
