Between January and May 2025, China's fixed-asset investment saw a year-on-year increase of 3.7%, falling short of market projections which anticipated a 3.9% growth. Infrastructure investment experienced a rise of 5.6%, and manufacturing investment surged by 8.5%. However, investments in the real estate sector continued to decline, with a decrease of 10.7%. Across different industries, investment in the primary industry increased by 8.4%, while the secondary industry saw an 11.4% rise. In contrast, the tertiary industry experienced a slight decline of 0.4%. Excluding real estate, fixed-asset investment grew by 7.7% in the initial five months of this year. On a month-on-month basis, fixed-asset investment saw a marginal increase of 0.05%.