Expected annual growth target, boost consumer policies, China's 2025 economic report praised for 'boosting energy'

As 2025 draws to a close, can the annual growth target of 5% be successfully achieved? What kind of answer will China's economy submit again? At the press conference on the operation of the national economy in November held on the 15th of this month, Fu Linghui, spokesperson and chief economist of the National Bureau of Statistics, gave a clear response: "From the perspective of the whole year, although there are difficulties and pressures, China's economy has strong resilience, strong macroeconomic policy support, steady growth of new driving forces, and good conditions to achieve the expected goals for the whole year." This judgment has also been echoed by foreign media. Many foreign media have mentioned that "China's economy maintained stable growth in November" when reporting on China's economic data in November and recent policies to boost consumption. Pakistan's "Diplomatic Perspective" commented on the 15th that although some areas still face challenges, the Chinese economy continues to demonstrate resilience driven by innovation, the development of advanced manufacturing, and the steady release of consumer demand.

According to data released by the National Bureau of Statistics on the 15th, market demand steadily expanded in the first 11 months of this year, and its driving effect on the economy continued to emerge. In terms of domestic demand, the total retail sales of consumer goods in society increased by 4% year-on-year, faster than the whole year of last year, especially with the effective implementation of the special action to boost consumption, which continued to unleash consumption potential; In terms of external demand, China's total import and export of goods increased by 3.6% year-on-year, with imports and exports to ASEAN, EU, and Africa increasing by 8.5%, 5.4%, and 18.7% respectively.

In addition, since the beginning of this year, the cultivation and growth of new quality productivity, as well as the rapid development of new formats and models, have injected new vitality and momentum into economic development. Data shows that in the first 11 months, the added value of high-tech manufacturing above designated size increased by 9.2% year-on-year, and the added value of digital product manufacturing increased by 9.3%; The production of industrial robots and integrated circuits increased by 29.2% and 10.6% respectively. The growth and expansion of new driving forces will be conducive to the positive development of the economy.

The stable and progressive development trend of the economy cannot be achieved without more proactive and effective macroeconomic policies and precise efforts. Fu Linghui believes that since the beginning of this year, the implementation of the "dual" construction and "two new" policies, as well as the deepening of the construction of a unified national market, have expanded demand, promoted production, and boosted the economy.

The steady performance of the Chinese economy has also been recognized by the international community. Recently, several international institutions such as the International Monetary Fund (IMF), World Bank, and Asian Development Bank have raised their expectations for China's economic growth rate in 2025. Both the World Bank and IMF have pointed out that the Chinese government's macroeconomic policies are "more proactive" and "more predictable", creating a stable environment for economic growth. Regarding this, Fu Linghui emphasized, "Major international organizations have raised their expectations for China's economic growth, which also demonstrates the international community's confidence in China's economic development

At the specific policy level, China's recent "business finance synergy" measures have also attracted attention from foreign media. On the 15th, Brazilian financial media "Money Times" reported that the Chinese Ministry of Commerce, the People's Bank of China, and the State Administration of Financial Regulation jointly issued a notice on strengthening the coordination between commerce and finance and boosting consumption to a greater extent. The Brazilian newspaper Curitiba commented that the 11 policy measures proposed in the above notice are not only aimed at activating consumption, but also committed to ensuring that key areas of the economy receive the necessary support for development. The expectations for this measure are high, as the synergy between the financial system and the enterprise system is expected to significantly stimulate consumption, which is the core element for China to achieve sustainable economic growth.

Regarding the final performance and future prospects of the Chinese economy in 2025, Feng Lin, an analyst at Oriental Jincheng, told Global Times reporters on the 15th that this year, the Chinese economy has withstood the pressure of severe external environmental fluctuations, and the resilience of economic growth has exceeded market expectations, especially in the high-tech manufacturing industry, which represents the development of new quality production, leading the growth rate. Feng Lin believes that the GDP in the first three quarters of this year increased by 5.2% year-on-year, and there is no doubt that the annual growth target of "around 5.0%" will be achieved. Feng Lin said, "Currently, China's economic foundation is stable and has great potential, and its advantages such as abundant talent resources have not changed. In addition, macroeconomic policies continue to maintain a stable growth orientation, and the economy is expected to continue to maintain rapid growth in 2026, providing key support for stabilizing employment, enterprises, markets, and expectations