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Chinese economy forges ahead with new, higher-quality progress in 2025
Chinese economy forges ahead with new, higher-quality progress in 2025
Title China's Economy Forges Ahead New, Higher-Quality Progress in 2025
As the world's second-largest economy, China's economic development has far-reaching implications for the global economy. Despite challenges in 2024, China's economy remained robust, achieving stable year-on-year gross domestic product (GDP) growth of 5 percent and making significant progress across economic and social sectors.
The Numbers
According to the National Bureau of Statistics (NBS), China's economic aggregate surpassed 140 trillion yuan (approximately $20.22 trillion) for the first time, achieving the development goal for the 14th Five-Year Plan period (2021-2025). The country's per capita GDP reached 99,665 yuan, or $13,953 at the average annual exchange rate, staying above $13,000 for three consecutive years.
Key Drivers
Scientific and technological innovation drove labor productivity to rise by 6.1 percent year on year in 2025, 1.1 percentage points higher than GDP growth. Total investment in research and development increased by 8.1 percent year on year, while the ratio to GDP reached 2.8 percent, exceeding the average level of members of the Organization for Economic Co-operation and Development for the first time.
Industrial Development
The added value of high-tech manufacturing enterprises above the designated size increased by 9.4 percent compared with the previous year, and the export value of high-tech products rose by 13.2 percent in 2025. The output of service robots, memory chips, and 3D printing equipment all recorded double-digit growth last year, reflecting new momentum in China's industrial development.
Green and Low-Carbon Transformation
China has continued to improve the quality and efficiency of its green and low-carbon transformation. The construction of a new energy system is accelerating, while the proportion of clean energy consumption in total energy consumption has risen to 30.4 percent.
Global Integration
Despite a volatile global environment, China has deepened its integration into the international division of labor, steadily expanded institutional opening up, and promoted high-quality interaction between domestic and international economic flows. China's trade with countries along the Belt and Road accounted for 51.9 percent of its total foreign trade last year.
Reform
Reform across China has deepened steadily, with progress made in key areas such as fiscal and taxation reform. Efforts have also been intensified to improve the business environment and address involution-style competition, according to the NBS.
Outcomes
Key outcomes include an average of 26,000 new enterprises established per day in 2025. Preferential tax and fee policies supporting technological innovation and manufacturing sectors have reduced corporate burdens by 2.9 trillion yuan.
Conclusion
China's economy has demonstrated remarkable resilience and growth, driven by scientific and technological innovation, labor productivity, and high-tech manufacturing. The country's green and low-carbon transformation, global integration, and reform efforts have all contributed to its continued progress. As the world's second-largest economy, China's development has significant implications for the global economy, and its continued growth is a key factor in stabilizing the global economy.
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