The supporting conditions and fundamental trend for China's long-term economic improvement have not changed when viewed from the perspective of the full year 2026, stated Kang Yi, Commissioner of the National Bureau of Statistics (NBS), on January 19 in Beijing.
The State Council Information Office held a press conference that day on the performance of the national economy in 2025, where Kang Yi made the above remarks.
Data released by the NBS that day showed that China's Gross Domestic Product (GDP) grew by 5% year-on-year in 2025.
Kang Yi stated that in 2025, the Chinese economy advanced under pressure, developing with a focus on innovation and quality improvement, successfully achieving the main expected targets, demonstrating strong resilience and vitality, and laying a solid foundation for economic development in 2026.
"Looking at recent conditions, positive changes have emerged in production, prices, expectations, and other areas, with the trend of stable and progressive economic development continuing," Kang Yi said.
In December 2025, the year-on-year growth rates of value-added industrial output from large enterprises and the services production index both accelerated compared to the previous month; the Consumer Price Index (CPI) rose by 0.8%, the highest increase since March 2023, while the core CPI has maintained a growth rate above 1% for four consecutive months. The year-on-year decline in the Producer Price Index (PPI) narrowed, and it registered a month-on-month increase for three consecutive months; both the Manufacturing Purchasing Managers' Index (PMI) and the Non-Manufacturing Business Activity Index returned to expansion territory.
Kang Yi indicated that, from a policy support perspective, the State Council executive meeting has deployed a package of policies to promote domestic demand through fiscal and financial coordination, with relevant departments accelerating implementation to advance the expansion of domestic demand. Policies related to the "Two New" initiatives (large-scale equipment renewal and consumer goods trade-in) are continuously being optimized, with the first batch of funds already disbursed in advance, creating favorable conditions for the economic start of this year.
"When assessing China's economy, one should consider both quarterly changes and the full-year trajectory, focusing not only on the total scale but also on the quality of development," Kang Yi stated. Looking at the full year of 2026, the supporting conditions and fundamental trend for China's long-term economic improvement remain unchanged, the general trend of high-quality economic development remains unchanged, and there is a foundation and conditions for maintaining stable and positive economic operation.
Comments