Observing a major economy requires looking at its scale, its quality, and its underlying momentum. Facing an adverse external environment, the Chinese economy has withstood shocks and charted a steady upward trajectory, achieving not just an expansion in size but also a strengthening of its "muscles" and a solidification of its "physique." The ability to recognize, adapt to, and drive change—oriented towards improvement, innovation, and substance—demonstrates the formidable resilience of the Chinese economy, making such growth more sustainable and secure. The recently released 2025 economic report shows that China's GDP surpassed 140 trillion yuan for the year, growing by 5.0% over the previous year in constant prices, successfully achieving the main targets for economic and social development. Assessing this report card has become a hot topic in domestic and international discourse. In terms of the overall picture, this represents relatively rapid growth on a high base. As the world's second-largest economy, China's massive scale means that each percentage point of growth requires an increment of a magnitude that is exponentially more difficult to achieve compared to just a few years ago; a growth rate of around 5% equates to adding the size of a medium-sized economy in a single year. Taking a longer view, during the "14th Five-Year Plan" period, China's economic aggregate successively surpassed the 110 trillion, 120 trillion, 130 trillion, and 140 trillion yuan marks, achieving consecutive "10-trillion-yuan" leaps. Judging by its quality, this is high-quality development driven by innovation. While a 5% growth rate may not seem exceptionally high in a historical comparison, this 5% is not merely about the roar of machinery; it is a 5% distinguished by its "innovation content" and "green content." From the leading role of high-tech manufacturing and new energy vehicles accounting for over 50% of new car sales domestically, to the rapid development of domestic AI large models and high-speed growth in the output of servers and industrial robots, the Chinese economy is accelerating its transformation with a powerful innovation engine. This indicates that while China's economic "size" is growing, its "muscles" are being strengthened and its "physique" is becoming more robust. Observing a major economy requires looking at its scale, its quality, and its underlying momentum. Only by placing the Chinese economy on the international chessboard for a deep observation can one truly appreciate the remarkable nature of this 5% growth. Over the past year, the global economy has faced a sluggish recovery, frequent geopolitical conflicts, and rising protectionist undercurrents, with many countries falling into a negative spiral of growth deceleration and uncontrollable inflation. Facing an adverse external environment, the Chinese economy has withstood the impact and carved out a stable upward curve. The ability to recognize, adapt to, and drive change—oriented towards improvement, innovation, and substance—demonstrates the formidable resilience of the Chinese economy, making such growth more sustainable and secure. Reaching a new level is both a milestone and a new test. Currently, China's economic development still faces numerous old problems and new challenges, with the impact of a changing external environment deepening, prominent contradictions between strong supply and weak domestic demand, and many risk hazards in key areas. However, most of these are issues arising during development and transformation and can be resolved through concerted effort; the fundamental conditions supporting long-term economic growth and the basic positive trend remain unchanged. This confidence stems from China's complete industrial system, well-developed supporting capabilities, increasingly comprehensive infrastructure network, as well as its abundant human resources and talent pool. It is essential to strengthen confidence, leverage advantages, and address challenges to continuously consolidate and expand the momentum of steady and improving economic performance. Reviewing the trajectory of China's economic development in recent years reveals a clear path to decoding its success: in the face of difficulties and challenges, China has moved away from "flood-like" stimulus and turned towards endogenous growth, tapping momentum from reforms and potential from the market. Economic principles show that, compared to aggregate stimulus, structural reform is a more difficult and slower path. Confronted with the pains of reform, many countries have reverted to the old path of scale expansion, but the Chinese economy has consistently forged ahead with extraordinary determination. Adhering to and implementing the "Two Unwaverings," the integrated national market is being advanced in depth; institutional opening-up is being steadily expanded, and foreign trade system reforms are being deepened; comprehensive efforts are being made to address "involution-style" competition and break down the "glass doors" and "revolving doors" facing private enterprises. As the high-level socialist market economy system accelerates its construction, the dividends of comprehensive deepening reform are continuously released, which will further invigorate market entities. By looking beyond the growth rate to the underlying support and seeing the essence beyond the phenomenon, it becomes easier to understand the key code behind the Chinese economy's ability to brave the headwinds and waves, and to have greater confidence in the powerful energy contained within the "China Way." The stable operation of the Chinese economy is not only crucial for its own modernization process but also serves as a significant force for global economic recovery. Recently, major international organizations have successively raised their growth forecasts for China, indicating widespread international optimism about the prospects for China's economic development. The steady progress of China's development express also brings strong confidence to the world, generating a longer "list of opportunities." The new ideas and certainty provided by China have led global media to marvel that China has redefined the true meaning of growth. This year marks the beginning of the "15th Five-Year Plan" period, making a stable economic start crucial. The mountains may be higher and the road more treacherous, but time and momentum are still on our side. By confronting difficulties head-on, striving vigorously, working to translate policy dividends into development momentum, and converting positive factors into tangible development outcomes, China is sure to embrace a brighter tomorrow.
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