On January 22, 2026, the Chinese mainland's GDP officially surpassed 140 trillion yuan (about $20.10 trillion) for the first time, marking a landmark in its economic journey. This achievement reflects long-term industrial strategies that date back to the mid-2000s.
According to Bert Hofman, former World Bank country director for the Chinese mainland, the momentum behind this milestone is rooted in decades-old efforts to upgrade manufacturing, invest in technology and expand global trade ties. These foundations have set the stage for a shift toward more balanced growth.
As the Chinese mainland embarks on its next Five-Year Plan, services, domestic consumption and policy reform are taking center stage. The services sector is poised to outpace traditional industry, catering to rising urbanization and digitalization across the economy.
Meanwhile, household spending continues to grow, driven by expanding middle-class incomes and new retail innovations—from mobile payments to online marketplaces. At the same time, recent policy reforms aim to streamline regulation, open financial markets and encourage private investment.
With these pillars—services, consumption and reform—the Chinese mainland enters a new chapter of sustainable growth. Analysts say that by leveraging domestic demand and deepening structural reforms, the economy can maintain momentum well beyond the 140 trillion yuan milestone.
Reference(s):
Beyond 140 trillion yuan: What powers China's next growth phase?
cgtn.com
