China's economy to grow 5.0 percent in 2025, meeting annual growth target

China's gross domestic product (GDP) grew 5 percent year-on-year in 2025, meeting an annual target set at around 5 percent, official data showed on Monday.

For the full year, GDP reached 140.19 trillion yuan (20.12 trillion US dollars), according to data released by the National Bureau of Statistics (NBS).

Key economic indicators pointed to stable and positive growth dynamics.

Industrial production recorded solid growth, with the value added of large industrial enterprises rising by 5.9 percent year on year. In terms of sectors, equipment manufacturing and high-tech industries performed particularly well, with value added rising by 9.2 and 9.4 per cent respectively.

Consumer demand has also shown resilience. Total retail sales of consumer goods rose by 3.7 per cent year-on-year to cross the 50 trillion yuan ($7.2 trillion) mark. Online retail sales in particular grew significantly, up 8.6 per cent.

The services sector also contributed to growth, with value added increasing by 5.4 percent.

Meanwhile, investment in manufacturing rose slightly by 0.6 per cent, despite a 3.8 per cent decline in total fixed investment.

Foreign trade maintained steady growth despite the challenging global environment. Total merchandise imports and exports increased by 3.8 percent year-on-year, with trade with Belt and Road Initiative countries growing by 6.3 percent and accounting for more than half of the country's total foreign trade.

The data also showed that disposable income per capita had increased by 5.0 percent year-on-year nationally, reflecting a steady improvement in household incomes.

Commissioner of the National Statistical Office Kang Yi said at a press conference on Monday that despite the difficult changes in the domestic and external economic environment over the past year, China's economy has moved forward under pressure, moving toward new growth engines and higher quality development, and successfully meeting major economic and social targets for the year.

Going forward, he said, China will implement more active and effective macroeconomic policies to expand domestic demand, develop new high-quality productive forces and accelerate the construction of a single national market to achieve sustainable economic growth.

CMG