In the deepening spring of April, the world's gaze turns eastward. China's GDP grew by 5.0% year-on-year in the first quarter, reaching the upper end of the full-year development target range of "4.5%-5%," ranking among the top performers globally. Amidst global headwinds, the Chinese economy advanced steadily in the initial year of the "15th Five-Year Plan," delivering a first-quarter report card that exceeded expectations and highlighting the resilience of a major economy. What underpins this resilience? Maintaining strategic focus, concentrating on domestic priorities, proactively identifying and adapting to change, and firmly grasping strategic initiative – through this dynamic interplay of "change" and "continuity," the giant ship of the Chinese economy forges ahead.
Across the nation, vibrant scenes abound. At the Consumer Products Expo by the Qiong Sea, over 3,400 brands vied for attention. At the Canton Fair on the banks of the Pearl River, 75,700 exhibition booths buzzed with activity. From the roar of Zhangxue locomotives traveling from Chongqing to the world, to the official commencement of operations at the country's first 10,000-unit humanoid robot production line – these individual scenes converge into the surging momentum of the Chinese economy, seizing initiative amid change and accumulating kinetic energy through progress.
**The Initial Test: "Stability" and "Advancement" Against the Wind** First-quarter GDP grew 5.0% year-on-year, accelerating by 0.7 percentage points from the fourth quarter of the previous year. The total value of imports and exports exceeded 11 trillion yuan for the first time, with a year-on-year growth rate of 15%, marking the highest quarterly growth rate in nearly five years. In March, the Producer Price Index (PPI) returned to positive growth after 41 months, and the Manufacturing Purchasing Managers' Index (PMI) re-entered expansion territory. These upward-trending indicators sketch a clear outline of a "good start" for the Chinese economy.
Turbulent times truly test resilience. Currently, profound changes unseen in a century are accelerating, geopolitical contests intensify, ongoing conflicts in the Middle East cause persistent disruptions, and global economic recovery remains arduous. The International Monetary Fund's (IMF) latest World Economic Outlook report revised down the global growth forecast for 2026 to 3.1%. This contrast between China's rise and global slowdown is particularly stark. By maintaining focus amidst "change" and advancing against "adverse winds," China has become a "stabilizing anchor" in a volatile world. IMF Managing Director Kristalina Georgieva noted that despite the spillover impacts of Middle East conflicts on the global economy, China's economy remains resilient with significant potential and will exert a positive influence on the world.
**Continuity: The Bedrock of Resilience** Facing a complex and severe external environment, China has consistently maintained strategic focus, using "continuity" to respond to "myriad changes."
This "continuity" is reflected in the strategic focus of macroeconomic regulation. Adhering to the general principle of seeking progress while maintaining stability, China is intensifying efforts to implement more proactive and effective macro policies, focusing on stabilizing employment, businesses, markets, and expectations. Financial support for the real economy remains robust – in the first quarter, the increment in China's aggregate financing to the real economy reached 14.83 trillion yuan, staying at a relatively high level for the same period historically. RMB loans increased by 8.6 trillion yuan, with corporate financing costs remaining low. Proactive fiscal policy is front-loaded – first-quarter local government bond issuance exceeded 3.1 trillion yuan, hitting a new high since the fourth quarter of 2024.
This "continuity" is reflected in the security and stability of industrial and supply chains. Despite multiple pressures including intensified international geopolitical conflicts, volatility in global energy markets, and rising factor costs, the industrial economy has progressed under pressure, stabilizing and accelerating. In the first quarter, the value-added of China's manufacturing industry grew 6.3% year-on-year, contributing 32% to economic growth. The "State Council Regulations on Industrial and Supply Chain Security" recently came into effect, guiding the rational and orderly layout of industrial and supply chains, strengthening international cooperation in this domain, supporting breakthroughs in core technologies in key areas, and ensuring the stable, continuous production and circulation of key raw materials, technologies, equipment, and products.
This "continuity" is also reflected in the firm resolve for high-level opening up. China proactively opens its ultra-large market, actively expands imports, strengthens win-win industrial cooperation, allowing countries to better share "China opportunities." Recently, global heads of multinational corporations have frequently visited China, expressing long-term confidence in the Chinese market. In the first quarter, over 6,200 new foreign-funded enterprises completed customs record filing, and the number of foreign-funded enterprises with import-export records increased by over 1,000 compared to the same period last year, reaching 69,000.
**Embracing Change: The Key to Navigating Transformation** Guangzhou Tuohua Intelligent Technology Co., Ltd. has deep roots in the Middle Eastern market for over a decade, operating dozens of self-owned stores and multiple proprietary brands. Facing impacts from Middle Eastern tensions, the company did not passively resign itself but proactively sought change and pursued a dual-track strategy – actively exploring new markets while continuously developing new products. Addressing local energy shortages, the company expanded its product line into the new energy sector, persistently researching energy storage power sources and solar lighting products. Despite a challenging foreign trade environment, the company's负责人 remains confident: "In an uncertain environment, companies with technology, brands, and localized teams will eventually wait for the next window of opportunity."
The resilience of the Chinese economy stems not only from steadfast strategic focus ("continuity") but also from proactive innovation and adaptation ("change"). Using "change" to break new ground and build momentum, enhancing resilience and stimulating vitality through transformation, is the key code for the Chinese economy to navigate cycles.
"Change" manifests in macroeconomic regulation – "change" towards precise policy measures and dynamic optimization. In 2026, the central government specifically allocated 100 billion yuan, launching a package of six policies to synergize fiscal and financial efforts in boosting domestic demand, with four targeting support for private investment and two supporting resident consumption. Since the beginning of the year, loans in sectors like technology, green development, inclusivity, elderly care, and digital have maintained double-digit growth. Precise and effective regulation both cushions short-term pressures and consolidates long-term foundations.
"Change" manifests in industrial structure – "change" towards动能转换 and quality upgrading. In the first quarter, value-added of equipment manufacturing grew 8.9% year-on-year, and high-tech manufacturing grew 12.5%, 2.8 and 6.4 percentage points faster than the average for all large-scale industries, respectively. Output of 3D printing equipment, lithium-ion batteries, and industrial robots increased by 54.0%, 40.8%, and 33.2% year-on-year, respectively. New growth drivers are increasingly shouldering greater responsibility, with new industries and new economic forms emerging continuously.
"Change" manifests in market patterns – "change" towards internal-external linkage and diversified expansion. Affected by Middle Eastern situations, China's imports and exports with some regions experienced short-term fluctuations, but thanks to a diversified market layout, overall foreign trade achieved逆势增长. In the first quarter, China's imports and exports with Belt and Road partner countries reached 6.06 trillion yuan, up 14.2%, accounting for 51.2% of the total import-export value. Imports and exports with ASEAN and Latin America both grew 15.4%, with Africa up 23.7%, with the EU and the UK up 14.6% and 13.1% respectively, and with other APEC economies up 13.4%. "Diversified development has enhanced the resilience of foreign trade," said Minister of Commerce Wang Wentao, noting the dynamic shift in trade flows.
At the 139th Canton Fair, the booth of Shenzhen Huaxing New Energy Technology Co., Ltd. attracted a steady stream of clients from Belt and Road countries. This company offers not just simple energy storage cabinets but a systematic service package of "EPC turnkey + localized team + electricity trading solutions." Targeting Europe's unstable grid and frequent price fluctuations, they independently developed small smart energy storage cabinets adaptable to minute-level electricity trading, enabling a flexible "charge low, discharge high" power usage model. Addressing Africa's high diesel costs, they launched an integrated "solar-storage-diesel" system, helping customers recoup costs in just one and a half to two years. "We don't compete on price, nor do we engage in 'ship-and-forget' transactions," said Sun Huaibing, R&D Director of Shenzhen Huaxing New Energy Technology. The company has built its own overseas warehouses in Europe, stocks现货, and stations core operational teams locally. "Facing production capacity fluctuations, we fully leverage China's完善的 new energy supply chain system, integrating quality OEM resources. We provide core technology and solutions, while partner factories handle production, ensuring product quality and enabling flexible capacity adjustment."
**Sustained Endeavor: "Quality" and "Efficiency" Through Deep Cultivation** By consolidating foundations through "continuity," nurturing new opportunities through "change," and demonstrating responsibility amidst turbulence, the powerful resilience of the Chinese economy is embodied in the vivid practices of countless market entities navigating "change" and "continuity."
Entering the Zunjie Super Factory in Hefei, Anhui, a scene of virtual-physical integration unfolds: on the production line, new energy vehicles are being manufactured, while their corresponding virtual manufacturing process is displayed in real-time on a large screen. "We have recreated a factory in the digital world – a 'digital twin' factory," said Wei Dawei,负责人 of the Zunjie Super Factory. By leveraging industrial robots, cameras, sensors, and other equipment on the production line, data streams into the cloud-based factory "brain" at a rate of 300,000 pieces per second, reducing debugging cycles by over 40% and manufacturing delivery cycles by over 20%. In the first quarter of this year, Jianghuai Automobile sold 4,413 new energy light trucks, a year-on-year increase of 2.9%; sales of new energy passenger vehicles grew 66.04% year-on-year. Cumulative export sales reached 45,000 vehicles, with medium and high-end light truck exports maintaining the industry's top position. Honing "internal strength" through technological innovation and strengthening "external capabilities" through overseas布局 have become two "trump cards" for companies building competitiveness.
Seizing the opportunities of "change," a deeper transformation is underway, from manufacturing to services. This year, a batch of "intelligent agent assistants" have quietly taken up their roles. At Beijing Union Medical College Hospital, the "Pancreatic Cancer Postoperative Complication辅助诊疗Agent," co-created by Digital China Group and medical experts, can deeply analyze vast amounts of clinical pathology and diagnostic data, serving as a "diagnostic partner" for attending physicians. "The 'last mile' for AI+ healthcare lies in whether AI can be deeply embedded into core diagnostic processes, delivering tangible application value to clinical practice, truly playing an辅助决策 role, and on this basis, achieving 'breakthroughs' around clinical challenges and high-value scenarios such as 'acute, critical, severe, difficult, and rare' conditions," said Tang Kai, Vice President of Digital China Group.
Such examples are plentiful. From new consumption trends at the Consumer Products Expo to manufacturing prowess at the Canton Fair; from the overseas expansion of power equipment and储能电池 to independent brands entering Europe and Southeast Asia; from technology exports to industrial ecosystem出海 – Chinese enterprises are actively pursuing innovation and self-iteration amidst change.
At the 139th Canton Fair, the exoskeleton robot from Hangzhou Taixi Intelligent Technology attracted queues of buyers. The weight of the company's product dropped from 2.4 kg last year to 1.8 kg, performance improved by about 20%, and new products are launched every 3 to 6 months. "China's industrial manufacturing chain is complete. There are different types of suppliers in both the Yangtze River Delta and Pearl River Delta regions, capable of quickly meeting downstream customers' diverse needs regarding price, weight, and functionality," said Liang Linchao, Founder and CEO of the company. From exploring emerging markets to user-centric product iteration, and efficient industrial chain collaboration, this company vividly诠释 the deeper logic of "supply and demand." "Accurately understanding demand and efficiently providing supply – other issues will then be resolved," Liang Linchao said.
Facing external headwinds, Chinese enterprises持续创新 and proactively seek breakthroughs amidst change. In uncertainty, they are building a competitiveness characterized by certainty through technological深耕, ecosystem出海, and deep empowerment.
The prospects are promising, the future holds promise. The Chinese economy is a vast ocean, growing broader through tempests and more resilient in the face of challenges. Embarking on the new journey of the "15th Five-Year Plan," a stable, open, and innovative China will continue to inject confidence and strength into global economic recovery.
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