The current decline in investment is a reflection of the shift from traditional investment models to new investment models. It is a product of the orderly connection between structural adjustments and policies, rather than a narrowing of potential effective investment space. From a medium- to long-term perspective, there is still huge room for effective investment in China, and new growth points are being formed at an accelerated pace. Looking at industry segments, from January to August of this year, investment in the integrated circuit manufacturing industry increased by 12.0%, investment in the lithium-ion battery manufacturing industry increased by 20.6%, and investment in the electronic circuit manufacturing industry increased by 58.8%. These data show that investment has not completely shrunk, but has experienced a profound shift in focus from traditional fields to emerging fields, and from scale expansion to efficiency improvement. In this process, investment in new infrastructure and AI is particularly critical. Computing power, data, models, applications, etc. are linked to each other, which can not only create current demand, but also improve long-term supply efficiency. It is an important engine for promoting a new round of effective investment. The current adjustment in the investment sector is a necessary step of leapfrogging from “whether there is” to “good or not”, and from “big or not” to “strong or not strong.” With the trillion-level investment potential of the “Six Zhang Network” construction, the vast space for new infrastructure+AI investment, and the synergy effect of closely integrating investment in goods and people, the huge potential of China's investment will be fully unleashed, which will not only benefit current growth, but also support long-term development.

The current decline in investment is a reflection of the shift from traditional investment models to new investment models. It is a product of the orderly connection between structural adjustments and policies, rather than a narrowing of potential effective investment space. From a medium- to long-term perspective, there is still huge room for effective investment in China, and new growth points are being formed at an accelerated pace. Looking at industry segments, from January to August of this year, investment in the integrated circuit manufacturing industry increased by 12.0%, investment in the lithium-ion battery manufacturing industry increased by 20.6%, and investment in the electronic circuit manufacturing industry increased by 58.8%. These data show that investment has not completely shrunk, but has experienced a profound shift in focus from traditional fields to emerging fields, and from scale expansion to efficiency improvement. In this process, investment in new infrastructure and AI is particularly critical. Computing power, data, models, applications, etc. are linked to each other, which can not only create current demand, but also improve long-term supply efficiency. It is an important engine for promoting a new round of effective investment. The current adjustment in the investment sector is a necessary step of leapfrogging from “whether there is” to “good or not”, and from “big or not” to “strong or not strong.” With the trillion-level investment potential of the “Six Zhang Network” construction, the vast space for new infrastructure+AI investment, and the synergy effect of closely integrating investment in goods and people, the huge potential of China's investment will be fully unleashed, which will not only benefit current growth, but also support long-term development.