Consolidating the Stable Foundation and Stimulating the Momentum of Progress: A Perspective on the Resilience of the Chinese Economy
As we approach the end of the year and look back at the year 2025, facing rapid changes in the external environment and increasing uncertainty, the Chinese economy has always fought against the wind and waves, striving to move forward——
The total annual economic output is expected to reach 140 trillion yuan, consolidating and enhancing the position of the world's second largest economy. The role of consumption as the main engine of economic growth is further highlighted, the foundation of the real economy is more stable, the layout of the international market continues to be optimized, and the basic foundation of China's stable economic development is constantly consolidated.
The 14th Five Year Plan is coming to an end, and the 15th Five Year Plan is about to begin.
Build a solid core
In winter in Xining, the construction of the Qinghai Hainan clean energy transmission base power project with a total investment of nearly 73 billion yuan has begun. This is the third green energy channel in Qinghai, following the "Green Electricity Entering Henan" and "Green Electricity Entering Guangxi" initiatives.
This year, despite the complex and volatile international environment and increasing uncertainty, the Chinese economy still faced pressure and continued to provide momentum for the development of the world economy with solid "stability".
Looking at economic growth: In the first three quarters, the gross domestic product (GDP) grew by 5.2% year-on-year, accelerating by 0.4 percentage points compared to the same period last year. In October, major economic indicators such as the added value of industrial enterprises above designated size and the total retail sales of consumer goods performed well.
Looking at employment prices: The national urban survey unemployment rate in October was 5.1%, a decrease of 0.1 percentage points from the previous month. The national consumer price index (CPI) increased by 0.2% year-on-year, maintaining overall stability.
Looking at international balance of payments: In the first three quarters, the scale of goods import and export reached a historic high, and the growth rate rebounded quarter by quarter. At the end of October, the scale of foreign exchange reserves rose to 3343.3 billion US dollars.
Various risks and challenges are intertwined, and it is extremely difficult for a super large economy to maintain stable development. It requires both strong support from the chassis and effective policy coordination and continuous efforts.
For many years, China has maintained its position as the largest manufacturing country, with grain production reaching a level of 1.4 trillion kilograms and the total economic output breaking through new thresholds... After years of high-quality development practice and accumulation, the Chinese economy has always maintained a stable foundation.
Adhering to the general principle of seeking progress while maintaining stability, the Party Central Committee has deployed and implemented a package of incremental policies, focusing on stabilizing employment, enterprises, markets, and expectations. Various regions and departments have taken active actions to expand domestic demand, reduce the burden on enterprises, and rectify "internal competition", and a series of measures have been put into effect, promoting the steady progress of the Chinese economy.
Recently, several institutions such as Goldman Sachs and Deutsche Bank have raised their expectations for China's economic growth for the whole year. Several foreign media outlets, including Bloomberg, have published articles stating that "China's data has exceeded expectations on multiple indicators" and "China's steady economic growth provides a stable anchor for the global economy".
Accumulated strength
At the 2025 Quantum Technology and Industry Conference held in Hefei recently, a series of major achievements were showcased, including the breaking of the record for "quantum computing superiority" by the "Zuchong No. 3" and the release of a series of distributed new energy quantum encryption products.
From the laboratory to the application field, the quantum computing industry ecosystem is gradually being constructed, and new growth points are about to emerge.
Stability is the foundation of consolidating the foundation, while progress is the key to expanding new horizons. With the advancement of innovation and the promotion of stable development, the Chinese economy has stronger driving force and resilience.
Igniting new engines of growth through development——
Registered, constructed, put into operation, and launched in the same year... In October of this year, the first "Xiong'an Made" satellite, "Xiong'an-1," was launched at Blue Arrow Hongqing (Xiong'an) Space Technology Co., Ltd. Stepping into the rapid development trend of aerospace information, Xiong'an has gathered more than 60 enterprises in this field, and the future city is embracing future industries.
From the release of the new generation of ultra high speed real-time oscilloscope to the acceptance of the world's largest skin stretching machine, a series of key equipment have achieved breakthroughs this year, and the backbone of Chinese manufacturing has become stronger due to innovation.
The added value of equipment manufacturing accounts for over 35% of the added value of industries above designated size, and emerging industries such as integrated circuits continue to strengthen their role in supporting the economy; In the total electricity consumption of the society, there is 1 kilowatt hour of green electricity for every 3 kilowatt hours, and the energy transition continues to accelerate; The scale of the core industry of industrial Internet has exceeded 1.5 trillion yuan... The gold content, green content, and smart content have been comprehensively improved, new competitive advantages have been constantly built, and the economy's ability to resist shocks and risks has been strengthened.
Expand new development space through the "smoothness" of circulation——
Recently, six departments issued the "Implementation Plan for Enhancing the Adaptability of Supply and Demand of Consumer Goods and Further Promoting Consumption" to create a virtuous cycle of "consumption upgrading industrial upgrading supply-demand balance", aiming to form three trillion level consumption fields and ten billion level consumption hotspots.
From the use of ultra long term special treasury bond to support the "dual" and "new", stimulate the vitality of business entities, to effectively reduce the logistics costs of the whole society, and to promote the construction of a unified national market in depth... Since this year, the policy has further worked to "smooth" the word, the domestic circulation has become more smooth, and the "world market" has become more and more powerful.
Looking at problems with a development perspective and taking the initiative with a proactive attitude, "said Dong Yu, Executive Vice President of the China Development Planning Research Institute at Tsinghua University. He believes that by creating a stable development environment through the" progress "of structure, quality, and efficiency, the Chinese economy is gaining momentum through a positive interaction between" stability "and" progress ".
Anchor the target unwaveringly
We must continue to accurately implement the decisions and deployments of the Party Central Committee, focus on stabilizing employment, enterprises, markets, and expectations, stabilize the economic fundamentals, and consolidate and expand the positive momentum of economic recovery. The Fourth Plenary Session of the 20th Central Committee of the Communist Party of China emphasized the resolute achievement of the annual economic and social development goals. In the strategic planning for the next five years, the plenary session continued to identify promoting high-quality development as the theme of economic and social development, and called for "adhering to economic construction as the center".
Stable goals, stable policies, and stable expectations are the clear signals that China sends to the world.
Continuously deepen reform and focus on doing our own things well——
Deploying comprehensive reform pilot projects for market-oriented allocation of factors in 10 regions, issuing the "Implementation Opinions on Accelerating Scene Cultivation and Opening up to Promote Large scale Application of New Scenarios", and promoting the construction of cross regional and cross basin large channels... Targeting the bottlenecks of large market construction, new quality productivity bottlenecks, and pain points of regional coordinated development, the reform measures are more precise and focused.
"Building a modern industrial system, consolidating and strengthening the foundation of the real economy" is placed in the first strategic task proposed in the "15th Five Year Plan", adhere to solving the "three rural" issues as the top priority of the work of the whole party, and strengthen national security capacity building in key areas... The goal of anchoring is unshakable, and Chinese path to modernization continues to advance.
Optimistic about the Chinese economy, the world casts a vote of confidence with actions——
In September, Danfoss officially opened its largest production base in China, Haiyan Second Industrial Park; In October, Medtronic's first digital healthcare innovation base in China landed in Beijing; In November, Maersk invested over 1 billion yuan to build a comprehensive logistics flagship warehouse, which opened in Shanghai... Foreign investment continues to increase, demonstrating confidence in the broad prospects of the Chinese economy.
The intended annual turnover of the 8th CIIE reached 83.49 billion US dollars, an increase of 4.4% compared to the previous edition; More than 310000 overseas buyers attended the 138th Canton Fair, with an on-site intended export transaction volume of 25.65 billion US dollars. The results of the two major international exhibitions confirm the weight of open China on the world stage.
The main tone of stable economic operation has not changed, the trend of solid promotion of high-quality development has not changed, and the basic characteristics of strong economic resilience and great potential have not changed. "The spokesperson of the National Bureau of Statistics evaluated the overall performance of China's economic operation with three" unchanged "statements.
Maintaining composure and steady progress, the Chinese economic ship will surely sail steadily along the path of high-quality development.