China is gearing up for a robust economic performance in 2025, targeting a growth rate of around 5 percent, as outlined in the latest government work report presented to the national legislature.
Building on the momentum from 2024, when China achieved a 5 percent growth rate thanks to impactful policy measures, the 2025 target places the country among the world's fastest-growing major economies. This growth is comparable to the annual output of a mid-sized nation, highlighting China's significant role in the global economy.
Huang Qunhui, a national political advisor from the Institute of Economics under the Chinese Academy of Social Sciences, emphasized the feasibility and strategic nature of this target. \"In the face of a challenging global environment, the proactive and resilient goal suggests that China is braving uncertainties with a clear, determined approach to growth,\" he stated.
2025 is a pivotal year as it marks the final year of China's 14th Five-Year Plan (2021-2025). The outcomes of this period are crucial not only for sustaining economic growth but also for laying the groundwork for the next five-year blueprint aimed at modernization and long-term development.
High-quality development remains a central focus of the government's agenda. Strategies include stimulating domestic demand, developing new quality productive forces, and fostering emerging industries such as quantum technology and the low-altitude economy. Additionally, there is a strong emphasis on integrating digital technologies like artificial intelligence with manufacturing and market strengths to accelerate the upgrading of traditional industries.
The report highlights a people-centered approach, aiming to improve living standards and boost consumer spending. To support this, ultra-long special treasury bonds totaling 300 billion yuan will be issued to back consumer goods trade-in programs, ensuring that domestic demand continues to be the main engine of economic growth.
As China navigates through global uncertainties, the combination of domestic focus and technological innovation positions it well to achieve its ambitious growth targets while contributing to global economic stability.
Reference(s):
cgtn.com
