In the first three quarters of 2021，China’s investment increased by an average of 3.8% of two years，and generally maintained a stable recovery growth trend. The average growth rate of state-owned holding investment in the past two years was lower than that before the epidemic. Private investment grew rapidly driven by the sustained and stable recovery of the economy and export demand，but the momentum for recovery and growth tended to weaken. The growth of infrastructure investment slowed down. The growth rate of manufacturing investment decreased，while the investment in high-tech manufacturing increased rapidly. Investment in real estate development increased steadily. The investment recovery momentum in the central region was strong and the recovery sustainability was good. Affected by the restrictions to utilize the external resources and markets，enhanced external constraints，increased difficulties in stabilizing expectations and other factors，future investment may still face certain downward pressure. In accordance with the requirements of accelerating the construction of a new development pattern，we should accurately grasp the new characteristics of the investment-consumption circulation under the new situation，adjust and optimize the investment direction and investment focus，give full play to the role of investment growth in promoting consumption growth，constantly improve the supervision in process and afterwards of investment，reasonably guide the expectations of investors and improve the efficiency of investment-consumption circulation.