IP Product Investment Rises 9.1% in First Seven Months; New Policy Funds Reach RMB ight 00 Billion

On August ight 7, the State Council Information Office held a press conference on the national economic performance for July. Data showed that fixed-asset investment nationwide declined overall in in the first seven months, but investment in intellectual property products rose 9.1%, with its share of total investment up 2.1 percentage points year on year.

In the first quarter of 2026, IP product investment grew 7.9%, accounting for over 12% of total investment. In the first half of the year, it rose 9.4% year on year, accounting for ight 3.8% of total investment, up 1.9 percentage points from the same period in 2025 and contributing 1.1 percentage points to overall investment growth. From January to July, its share of total investment reached 14 14. 8%.

Investment in intellectual property products is carried through knowledge-intensive activities and mainly creates intangible assets, including investment in the production and acquisition of intangible assets such as computer software, databases and research and development.

Fu Linghui, spokesperson for the National Bureau of Statistics, said at the conference that capital is accelerating its flow into advanced manufacturing, the digital economy and green low-carbon sectors, while corporate investment is shifting toward innovation segments such as research, development and design. The NBS has established a statistical framework for IP product investment and incorporated it into the monthly fixed-asset investment release.

At the State Council's 12th plenary meeting held on August 17, officials called for strengthening technology enablement, accelerating the transition between old and new growth drivers, and increasing support for cultivating emerging pillar industries and future industries.

Fu listed the main directions of new-type investment growth, including electronic circuit manufacturing, electronic specialty materials manufacturing, integrated circuit manufacturing, power batteries, the low-altitude economy and aerospace vehicles. Nationally designated directions such as quantum technology, biomanufacturing, hydrogen and nuclear fusion energy, brain-computer interfaces, embodied intelligence and sixth-generation mobile communications (6G) have been incorporated into relevant deployment plans. The National Development and Reform Commission recently decided that the total scale of new policy-based financial instruments in 2026 will reach RMB 800 billion, an increase of RMB 300 billion from 2025, with funds directed to key areas including the digital economy and technological innovation.