China’s National Bureau of Statistics reported that from January to November 2025, the country’s fixed-asset investment declined 2.6 percent year on year, a sharper drop than the 1.7 percent decrease recorded through October. Based on this trajectory, Japanese media predict that China’s total fixed-asset investment for all of 2025 could register an overall decline, marking the first negative growth since the data series began in 1995.
The report noted that investment has been contracting on a month-by-month basis since February, signaling that China’s traditional, investment-driven growth model is losing momentum. Analysts attribute the downturn to mounting fiscal pressures on local governments, which have curtailed spending, as well as central government efforts to rein in excessive investment in certain sectors.
Economists warn that continued weakness in investment could further dampen domestic demand and slow China’s overall economic growth.
Source: Central News Agency (Taiwan), December 16, 2025
https://www.cna.com.tw/news/acn/202512160236.aspx