Today, the National Bureau of Statistics released the 2025 Statistical Bulletin on National Economic and Social Development. According to preliminary calculations, the full-year gross domestic product (GDP) reached 140.1879 trillion yuan, up 5.0% year-on-year. The full-year value added of the construction industry was 8.6425 trillion yuan, down 1.1% from the previous year.

According to the statistical bulletin, preliminary calculations show that full-year GDP reached 140.1879 trillion yuan, up 5.0% year-on-year. Of this, the value added of the primary industry was 9.3347 trillion yuan, up 3.9%; the secondary industry value added was 49.9653 trillion yuan, up 4.5%; and the tertiary industry value added was 80.8879 trillion yuan, up 5.4%. The primary industry accounted for 6.7% of GDP, the secondary industry for 35.6%, and the tertiary industry for 57.7%.

The full-year value added of the construction industry was 8.6425 trillion yuan, down 1.1% year-on-year. Profits of qualified general contracting and specialized subcontracting construction enterprises nationwide totaled 635.5 billion yuan, down 14.1% year-on-year, of which profits of state-controlled enterprises were 347.3 billion yuan, down 8.2%.

Fixed Asset Investment Across Society

Full-year total fixed asset investment across all sectors reached 49.1109 trillion yuan, down 3.9% year-on-year. Fixed asset investment (excluding rural households) was 48.5186 trillion yuan, down 3.8%. Within fixed asset investment (excluding rural households), broken down by region, investment in the eastern region fell 8.4%, the central region fell 2.7%, the western region fell 1.3%, and the northeastern region fell 15.5%.

Within fixed asset investment (excluding rural households), primary industry investment was 957.0 billion yuan, up 2.3% year-on-year; secondary industry investment was 17.7368 trillion yuan, up 2.5%; and tertiary industry investment was 29.8248 trillion yuan, down 7.4%. Infrastructure investment fell 2.2%. Investment in the social sector fell 8.5%. Private investment fell 6.4%, and private project investment excluding real estate development fell 1.9%. By sector, private investment in manufacturing fell 0.2%, while private investment in infrastructure rose 1.7%.

Real Estate Development Investment

Full-year real estate development investment totaled 8.2788 trillion yuan, down 17.2% year-on-year. Of this, residential investment was 6.3514 trillion yuan, down 16.3%; office building investment was 320.3 billion yuan, down 22.8%; and commercial premises investment was 594.7 billion yuan, down 14.0%. Full-year sales area of newly built commercial housing was 881.01 million m².

Over the full year, 1.21 million units (rooms) of affordable sale housing, affordable rental housing, and public rental housing were commenced or sourced nationwide; urban dilapidated housing renovation began on 170,000 units; renovation of 27,000 old urban residential communities commenced, benefiting 4.99 million households; and rural dilapidated house renovation and seismic retrofitting for low-income rural households and other priority groups commenced on 219,000 households.

Steady Progress in Urban-Rural Integration and Regional Coordinated Development

At year-end, the national permanent resident urbanization rate stood at 67.89%, up 0.89 percentage points from the end of the previous year. By region, the eastern region's GDP for the full year was 73.0876 trillion yuan, up 5.0% year-on-year; the central region's GDP was 29.9108 trillion yuan, up 5.2%; the western region's GDP was 29.8750 trillion yuan, up 5.1%; and the northeastern region's GDP was 6.5035 trillion yuan, up 4.1%. The Beijing-Tianjin-Hebei region's full-year GDP was 11.9918 trillion yuan, up 5.4% year-on-year; the Yangtze River Economic Belt's GDP was 65.8336 trillion yuan, up 5.2%; and the Yangtze River Delta region's GDP was 34.6595 trillion yuan, up 5.4%. New progress was made in implementing major regional strategies including the development of the Guangdong-Hong Kong-Macao Greater Bay Area and ecological conservation and high-quality development of the Yellow River Basin. The Hainan Free Trade Port officially launched full-island customs closure operations.