<p>根据国家统计局的调查，2026 年第一季度的商业活动总体保持稳定，但各行业之间存在明显差异。不断上升的投入成本和疲弱的市场需求继续对企业造成压力，近一半的企业呼吁降低贷款利率以减轻财务压力。</p>
<p>该调查覆盖了 34 个省市的 19,907 家企业，响应率为 97.4%。结果显示，68.8% 的企业报告称第一季度的运营情况比 2025 年第四季度有所改善或保持不变。其中，20.5% 表示情况有所改善，48.3% 描述其状况为稳定。同时，31.2% 的企业表示经营条件恶化。</p>
<p>然而，与上一季度相比，企业变得更加谨慎。报告改善的企业比例下降了 4.9 个百分点，而描述情况稳定的比例下降了 2.1 个百分点。同时，报告面临更大困难的企业比例上升了 7 个百分点，这表明复苏仍然脆弱。</p>
<p>近 47% 的企业建议政府及相关部门采取措施降低贷款利率，以减轻投入成本压力。</p>
<p>从行业来看，贸易和服务业仍然是最乐观的领域。约 77.9% 的企业报告其运营情况有所改善或保持稳定，其中 21.1% 报告改善，56.8% 保持稳定。只有 22.1% 的企业表示情况变得更加困难。</p>
<p>制造和加工行业的表现也相对稳定，69.9% 的企业报告运营情况改善或保持稳定。然而，30.1% 的企业仍面临困难，表明关键生产行业的压力尚未完全缓解。</p>
<p>建筑行业仍然是最具挑战性的领域。只有 55.6% 的企业报告运营情况改善或保持稳定，而 44.4% 的企业表示与上一季度相比情况恶化，反映出材料成本上升和市场挑战的强烈影响。</p>
<p>外资企业表现出最高的乐观情绪，71.7% 的企业报告运营情况改善或保持稳定。国有企业和国内私营企业的相应数据分别为 69.5% 和 68.3%，这表明挑战在商业社区中普遍存在。</p>
<p>原材料、燃料和物流服务价格上涨仍然是最显著的挑战。多达 56.1% 的企业将不断上升的投入成本视为主要困难，与前几个季度相比大幅上升。</p>
<p>在需求方面，国内消费的缓慢复苏继续影响商业活动。约 50.4% 的企业表示疲弱的市场需求直接影响了其运营，这一数据与上一季度基本保持不变。</p>
<p>建筑行业受到特别影响，70.1% 的企业因材料价格上涨而面临困难。针对这些挑战，企业提出了几项政策建议。降低贷款利率成为最常见的提议，得到了 46.8% 的受访企业的支持。超过一半的受访者，即 54.8%，呼吁采取政策稳定原材料和服务成本的价格，而 33.5% 建议采取措施确保生产的稳定供应。</p>
<p>关于财政政策，37.5% 的企业建议调整税收、费用和其他财务义务，以更好地适应当前经济状况，而 19.9% 的企业建议降低土地租金以减轻成本负担。这些建议不仅反映了当前的紧迫关切，也体现了对能够增强竞争力并帮助企业适应日益不确定的经济环境的长期政策的期望。</p>

南方东英越南30

<p>越南的企业正面临不断上升的投入成本和疲软的市场需求，近 47% 的企业呼吁降低贷款利率以减轻财务压力。对 19,907 家企业的调查显示，68.8% 的企业在 2026 年第一季度报告运营稳定或改善，尽管 31.2% 的企业注意到情况恶化，谨慎情绪有所增加。建筑行业尤其面临挑战，70.1% 的企业因高材料价格而感到困难。建议包括稳定原材料价格和调整财政政策，以增强在经济不确定性中的竞争力</p>

<p>HÀ NỘI Business activity in the first quarter of 2026 remained broadly stable but showed clear divergence across sectors, according to a survey by the National Statistics Office. Rising input costs and weak market demand continue to weigh on enterprises, with nearly half calling for lower lending interest rates to ease financial pressure.</p>
<div class="lb-trans"><p>根据国家统计局的调查，2026 年第一季度的商业活动总体保持稳定，但各行业之间存在明显差异。不断上升的投入成本和疲弱的市场需求继续对企业造成压力，近一半的企业呼吁降低贷款利率以减轻财务压力。</p>
</div><p>The survey covered 19,907 enterprises across 34 provinces and cities, with a response rate of 97.4 per cent. Results show that 68.8 per cent of businesses reported their operations in the first quarter were either better or unchanged compared with the fourth quarter of 2025. Among them, 20.5 per cent said conditions had improved while 48.3 per cent described their situation as stable. Meanwhile, 31.2 per cent said business conditions had worsened.</p>
<div class="lb-trans"><p>该调查覆盖了 34 个省市的 19,907 家企业，响应率为 97.4%。结果显示，68.8% 的企业报告称第一季度的运营情况比 2025 年第四季度有所改善或保持不变。其中，20.5% 表示情况有所改善，48.3% 描述其状况为稳定。同时，31.2% 的企业表示经营条件恶化。</p>
</div><p>Compared with the previous quarter, however, businesses have become more cautious. The share of firms reporting improvement declined by 4.9 percentage points, while the proportion describing conditions as stable fell by 2.1 percentage points. At the same time, the percentage of enterprises reporting greater difficulties rose by seven percentage points, suggesting that the recovery remains fragile.</p>
<div class="lb-trans"><p>然而，与上一季度相比，企业变得更加谨慎。报告改善的企业比例下降了 4.9 个百分点，而描述情况稳定的比例下降了 2.1 个百分点。同时，报告面临更大困难的企业比例上升了 7 个百分点，这表明复苏仍然脆弱。</p>
</div><p>Nearly 47 per cent of enterprises proposed that the Government and relevant ministries introduce measures to lower lending interest rates in order to reduce input cost pressures.</p>
<div class="lb-trans"><p>近 47% 的企业建议政府及相关部门采取措施降低贷款利率，以减轻投入成本压力。</p>
</div><p>By sector, trade and services remained the most optimistic area. About 77.9 per cent of businesses in the sector reported improved or stable operations, including 21.1 per cent reporting improvement and 56.8 per cent stability. Only 22.1 per cent said conditions had become more difficult.</p>
<div class="lb-trans"><p>从行业来看，贸易和服务业仍然是最乐观的领域。约 77.9% 的企业报告其运营情况有所改善或保持稳定，其中 21.1% 报告改善，56.8% 保持稳定。只有 22.1% 的企业表示情况变得更加困难。</p>
</div><p>Manufacturing and processing industries also maintained relatively stable performance, with 69.9 per cent of enterprises reporting improved or stable operations. However, 30.1 per cent still faced difficulties, indicating that pressures on the key production sector have not fully eased.</p>
<div class="lb-trans"><p>制造和加工行业的表现也相对稳定，69.9% 的企业报告运营情况改善或保持稳定。然而，30.1% 的企业仍面临困难，表明关键生产行业的压力尚未完全缓解。</p>
</div><p>Construction remained the most challenging sector. Only 55.6 per cent of enterprises reported improved or stable operations, while 44.4 per cent said conditions had worsened compared with the previous quarter, reflecting the strong impact of rising material costs and market challenges.</p>
<div class="lb-trans"><p>建筑行业仍然是最具挑战性的领域。只有 55.6% 的企业报告运营情况改善或保持稳定，而 44.4% 的企业表示与上一季度相比情况恶化，反映出材料成本上升和市场挑战的强烈影响。</p>
</div><p>Foreign-invested enterprises showed the highest level of optimism, with 71.7 per cent reporting improved or stable performance. The corresponding figures for State-owned enterprises and domestic private firms were 69.5 per cent and 68.3 per cent respectively, indicating that challenges are broadly shared across the business community.</p>
<div class="lb-trans"><p>外资企业表现出最高的乐观情绪，71.7% 的企业报告运营情况改善或保持稳定。国有企业和国内私营企业的相应数据分别为 69.5% 和 68.3%，这表明挑战在商业社区中普遍存在。</p>
</div><p>Rising prices of raw materials, fuel and logistics services remain the most significant challenge. As many as 56.1 per cent of enterprises identified increasing input costs as their main difficulty, a sharp rise compared with previous quarters.</p>
<div class="lb-trans"><p>原材料、燃料和物流服务价格上涨仍然是最显著的挑战。多达 56.1% 的企业将不断上升的投入成本视为主要困难，与前几个季度相比大幅上升。</p>
</div><p>On the demand side, the slow recovery of domestic consumption continues to affect business activity. About 50.4 per cent of enterprises said weak market demand directly impacted their operations, a figure that has remained largely unchanged from the previous quarter.</p>
<div class="lb-trans"><p>在需求方面，国内消费的缓慢复苏继续影响商业活动。约 50.4% 的企业表示疲弱的市场需求直接影响了其运营，这一数据与上一季度基本保持不变。</p>
</div><p>The construction sector has been particularly affected, with 70.1 per cent of firms reporting difficulties due to higher material prices. In response to these challenges, enterprises have put forward several policy recommendations. Lower lending interest rates emerged as the most common proposal, supported by 46.8 per cent of surveyed businesses. More than half of respondents, or 54.8 per cent, called for policies to stabilise prices of raw materials and service costs, while 33.5 per cent recommended measures to ensure stable supply for production.</p>
<div class="lb-trans"><p>建筑行业受到特别影响，70.1% 的企业因材料价格上涨而面临困难。针对这些挑战，企业提出了几项政策建议。降低贷款利率成为最常见的提议，得到了 46.8% 的受访企业的支持。超过一半的受访者，即 54.8%，呼吁采取政策稳定原材料和服务成本的价格，而 33.5% 建议采取措施确保生产的稳定供应。</p>
</div><p>Regarding fiscal policy, 37.5 per cent of enterprises suggested adjusting taxes, fees and other financial obligations to better match current economic conditions, while 19.9 per cent proposed reducing land rental fees to ease cost burdens. The recommendations reflect not only immediate concerns but also expectations for longer-term policies that can enhance competitiveness and help enterprises adapt to an increasingly uncertain economic environment. VNS</p>
<div class="lb-trans"><p>关于财政政策，37.5% 的企业建议调整税收、费用和其他财务义务，以更好地适应当前经济状况，而 19.9% 的企业建议降低土地租金以减轻成本负担。这些建议不仅反映了当前的紧迫关切，也体现了对能够增强竞争力并帮助企业适应日益不确定的经济环境的长期政策的期望。</p>
</div>

Businesses call for lower lending rates as cost pressures mount

- 2026 年第一季度的企业活动保持稳定，但行业间差异明显。  
- 近 50% 的企业呼吁降低贷款利率以减轻成本压力。  
- 建筑行业挑战明显，70.1% 企业因材料价格上涨面临困难。

随着成本压力的增加，企业呼吁降低贷款利率