The Chinese economy is characterised by stability, dynamic development and resilience.

Official Chinese data released on 8 December revealed that the total value of China's imports and exports reached 41.21 trillion yuan in the first eleven months, representing a year-on-year increase of 3.6 per cent. Within this, the total value of imports and exports of goods in November rose 4.1% year-on-year, marking the tenth consecutive month of year-on-year growth. This year, in the face of a complex and volatile international environment, China has implemented more proactive macroeconomic policies and maintained overall stable economic performance with steady progress. International media have described the Chinese economy as „a mighty ship that continues to sail amid stormy waves.“.

In the first eleven months of this year, Chinese imports and exports to diversified markets, including ASEAN, the European Union, Africa and Latin America, recorded growth. At the same time, there was an increase in the volume of imports and exports for both private enterprises and foreign-invested enterprises, indicating the continued growth in the vitality of Chinese business entities. This further consolidates China's position as a stabilising anchor in global trade.

China's gross domestic product grew by 5.2% year-on-year in the first three quarters, with employment and prices remaining more or less stable and the balance of payments essentially balanced. These trends confirm that the Chinese economy continues to perform steadily and that the main economic and social development targets for the whole year will be met without difficulty.

In the first eleven months of this year, the structure of China's foreign trade continued to improve, and new factors for export growth performed well. Exports of mechanical and electrical products increased by 8.8 per cent. At the same time, imports of production equipment and key components increased, indicating that the growth of China's foreign trade is increasingly driven by structural modernisation and the strengthening of production capacity.

On the supply side, new productive forces represented by artificial intelligence, the digital economy and the green economy are constantly evolving, and new industries and new drivers of growth are constantly emerging. China has now become the first country in the world to exceed five million valid domestic invention patents, bringing significant dividends to multinational companies in the field of innovation.

In terms of demand, total retail sales of consumer goods in China rose by 4.3% year-on-year in the first ten months, exceeding the full-year growth rate of the previous year. As China continues to develop new consumer sectors and new consumer trends, thereby promoting a positive cycle between supply and demand, the enormous potential of the Chinese market will continue to be unleashed.

This year has seen insufficient growth in the global economy and an increase in trade protectionism. Against this backdrop, Chinese foreign trade grew against the trend in the first eleven months, with its economic performance in the third quarter alone exceeding that of Germany, the world's third-largest economy, for the whole of 2024.

Recently, several international organisations have gradually raised their forecasts for China's economic growth. For example, the Organisation for Economic Co-operation and Development revised its forecast for China's economic growth in 2025 upwards to 5.1%, stating that it had raised its forecasts for the Chinese economy for the third time this year due to its proven „resilience, transformation and dynamism“.

China is convening a „1+10“ dialogue with several international economic organisations to jointly discuss global governance and set the direction for global development. The world is looking forward to China's „list of opportunities“ and is eager to engage in mutually beneficial cooperation with China.

CMG