Since the beginning of this year, stable investment policies have been increasingly effective, with major projects advancing ahead of schedule. In the first quarter, China’s fixed asset investment rebounded and improved, with domestic demand potential continuing to be released.
In the first quarter, China’s fixed asset investment reached 10.27 trillion yuan, a year-on-year increase of 1.7%. Compared with the full year of last year, the year-on-year growth rate of investment turned from a decline to an increase.
The early launch of major project construction is a key factor driving the recovery and improvement of investment. In the first quarter, with the orderly progress of “two major” construction projects and increased investment in new infrastructure, infrastructure investment grew by 8.9% year-on-year, with the growth rate accelerating by 8.3 percentage points compared to the full year of 2025. Investment growth in sectors such as air transport and water transport accelerated. Large projects continued to play a driving role in stabilizing investment. In the first quarter, investment in projects with a total planned investment of 5 billion yuan or more increased by 10.8% year-on-year.
The “two new” policies continued to show results, with equipment purchase investment maintaining good momentum. In the first quarter, investment in equipment and tool purchases grew by 13.9%, with the growth rate accelerating by 2.4 percentage points compared to January-February, accounting for 18.4% of total investment.
Developing new quality productive forces according to local conditions, investment in emerging industries such as the low-altitude economy and future industries like embodied intelligence grew rapidly. In the first quarter, investment in high-tech industries increased by 7.4% year-on-year, with the growth rate accelerating by 2.3 percentage points compared to January-February.
