According to China.org.cn, the National Bureau of Statistics held a press conference today. At the conference, Mao Shengyong, spokesperson for the Bureau, pointed out that with the accelerated growth of new drivers of economic growth, China’s investment still has great potential and room for further expansion in the future.

　　In recent years, the growth rate of fixed-asset investment has indeed slowed down. In response, Mao Shengyong pointed out that, first, the growth rate of fixed-asset investment has recently shown a trend of slowing down but stabilizing gradually. In recent years, the growth rate of fixed-asset investment has indeed slowed down. On the one hand, the overall scale of fixed-asset investment has been steadily increasing. 2016 The nationwide figure for fixed-asset investment for the year is 60 Trillions—maintaining high growth in investment scale will become increasingly challenging. On the other hand, China’s economy is now at a critical juncture of structural adjustment and accelerated transformation from old to new growth drivers: The contradiction of overcapacity in traditional industries has yet to be fundamentally alleviated, while emerging industries, despite their rapid development, still account for only a relatively small share. Overall, given this scale, investment can still achieve... 7% The above growth rate is quite impressive.

　　Second, investment efficiency is improving, and the investment structure continues to optimize. Although the pace of investment growth has slowed but stabilized, investment in areas such as weak links, innovation, and people’s livelihoods has consistently maintained relatively rapid growth. 1-11 Month-on-month, investment in the social sector grew. 17% Investment in manufacturing technological upgrades and investment in high-tech industries grew by, respectively, 14% and 15% Above; investment in the tertiary sector also increased. 10.1% The above situation indicates that the investment structure is continuously being optimized.

　　Third, consumption is increasingly becoming the primary driver of economic growth. As China’s economic development stage continues to evolve, consumption’s contribution to economic growth has been steadily rising. In recent years, consumption’s contribution to economic growth has consistently remained... 60% Above, in the first three quarters of this year, consumer spending contributed to... GDP The contribution rate is 64.5% This indicates that our economic growth has gradually shifted from being primarily driven by investment and exports in the past to becoming more reliant on consumption. It reflects that, as China’s economy has entered a new stage of development, the structure of growth drivers has undergone a significant adjustment. In the first three quarters of this year, the growth rate of fixed-asset investment was... 7.5% , down compared to the same period last year. 0.7 percentage points, but during the same period GDP The growth rate has accelerated compared to the same period last year. 0.2 percentage points. This indicates that, as the structure of economic growth drivers shifts, a moderate slowdown in investment does not necessarily drag down the pace of economic growth.

　　Fourth, investment will play a pivotal role in optimizing the supply structure and enhancing the quality of supply. While consumption is increasingly becoming the primary driver of economic growth, this does not diminish the importance of investment. Today’s investments are tomorrow’s supplies—increasing investment today means boosting tomorrow’s supply, either by expanding its quantity or by improving its quality. Currently, the structure of investment is continuously being optimized, and investment efficiency is on the rise; in effect, this is all about elevating the quality of future supply. From this perspective, investment is not about simply expanding capacity—it’s about raising standards and better meeting the demands of consumption upgrading, as well as increasingly satisfying the people’s growing aspirations for a better life.

　　Fifth, China’s investment prospects for the future remain vast. The report of the 19th National Congress pointed out that the contradiction between unbalanced and inadequate development in our country remains prominent. Currently, industrialization and urbanization have yet to be fully completed, and there is still a great need for substantial investment in many areas—including infrastructure, public services, and especially innovation, technological advancement, and industrial transformation and upgrading. In particular, as new growth drivers accelerate their development, future investment holds enormous potential and room for expansion.