BEIJING, March 02, 2025 — CGTN has published an article detailing China’s preparations for economic growth in 2025, which included targeted stimulus measures and high-level policy frameworks.
Since September of last year, the Chinese economy has experienced a notable upswing. Strong GDP figures from the fourth quarter indicate a promising start to 2025.
This positive trend, which continued through the Chinese New Year, was fueled by stimulus initiatives and high-level policy designs aimed at addressing structural challenges within the Chinese economy and stimulating new economic growth.
However, this occurs against a backdrop of increasing global pressures that threaten China’s economic stability.
President Xi Jinping noted in an article that China’s economic operations still face difficulties and challenges as negative impacts from the changing external environment intensify.
The article, published in Qiushi Journal on Saturday, also stated that the Chinese economy possesses a stable foundation, considerable strengths, strong resilience, and vast potential. It maintains that the supporting conditions and fundamental trend for long-term growth remain unchanged.
China’s 2025 strategy focuses on navigating these dual realities – balancing external risks with domestic opportunities. This year marks the culmination of the 14th Five-Year Plan (2021–2025), a strategic plan that has guided the nation’s efforts to achieve high-quality development, advance technological innovation, and foster sustainable economic reforms. It also sets the stage for the launch of the 15th Five-Year Plan (2026-2030), which will shape China’s next phase of growth amid evolving global and domestic challenges.
Harmonizing market efficiency with proactive governance
Xi emphasized in his article the importance of coordinating the relationship between an efficient market and an effective government. He stated that the government must act decisively when necessary but also know when to avoid intervention.
China’s recent policy actions reflect this approach. In January, the National Development and Reform Commission (NDRC), China’s leading economic planner, released guidelines for creating a unified national market. These guidelines aim to encourage all localities and government departments to accelerate their integration into the unified national market and actively support its development.
The guideline is anticipated to reduce market transaction costs, create a favorable market environment for technological innovation and business development, and enhance competitive advantages.
These structural reforms align with a growing consensus among economists that China’s economic progress depends on fostering innovation and productivity rather than short-term solutions—a shift exemplified by the unified market initiative’s emphasis on systemic efficiency.
“Deregulating key industries, encouraging private sector participation, and attracting foreign investment in high-tech and green energy sectors will be instrumental in driving this transformation,” wrote Matteo Giovannini, a finance professional at the Industrial and Commercial Bank of China and a Non-Resident Associate Fellow at the Center for China and Globalization, in an op-ed published on CGTN.
“Restoring confidence among private enterprises will also be critical, as these firms are key engines of job creation, technological advancement, and economic dynamism.”
‘Resilient and adaptable’
Xi’s article in Qiushi also covered other key issues, including the relationship between total supply and demand to ensure smooth economic circulation, largely reflecting the main objectives outlined by the Central Economic Work Conference held in December of the previous year.
In addition to driving a significant rebound for the Chinese economy, those tasks established a strong foundation for its 2025 trajectory. Experts have highlighted the adaptability and resilience inherent in China’s economy, expressing optimism following the Central Economic Work Conference.
Michael Borchmann, former head of the European and International Affairs Department of the federal German state of Hesse, stated that it is unusual for an economy like China’s, which is already at a stage of high-quality development, to maintain an annual GDP growth that meets its target, especially given current global economic challenges.
Official data indicates that China’s GDP in 2024 increased by 5 percent from 2023, reaching 134.9 trillion yuan ($18.77 trillion).
“This demonstrates not only the extreme resilience and adaptability of the Chinese economy but also the steady expansion of domestic demand and the results of industrial transformation,” he said.
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