改革开放以来,民间投资迅速增长,成为推动我国经济发展的重要力量。但进入2016年后,我国民间投资增速骤然下降,呈“断崖式”下滑态势,以中部和东北地区表现尤甚,行业中则是受制造业增长乏力的影响。以数据和理论逻辑分析为基础,笔者认为经济下行背景、实体经济投资回报率下降、行业准入限制和政府措施不当是主要原因,而融资问题和政府挤出并不是民间投资下滑的关键,并以此提出相关政策建议以促进民间投资的长期发展。 Since the reform and opening up, private investment has grown rapidly and has become an important force in promoting China’s economic development. However, after 2016, the growth rate of non-government investment in our country dropped sharply, showing a downward trend of “Cliff-typed”, especially in the central and northeastern regions, while the industry is affected by the sluggish growth in the manufacturing sector. Based on the data and theoretical analysis, the author believes that the background of the economic downturn, the real economy investment rate of return decline, industry access restrictions and improper government measures are the main reasons, and financing issues and government out of the private investment is not the key to declining, and To put forward relevant policy recommendations to promote the long-term development of private investment.