As 2025 draws to a close, China remains confident in achieving its annual GDP growth target of around 5%. At a press conference on November 15 discussing national economic performance, Fu Linghui, spokesperson for the National Bureau of Statistics (NBS), stated: "Despite challenges, China's economic resilience, strong policy support, and steady growth of new growth drivers provide favorable conditions for meeting annual targets." This assessment has been echoed by international media, with multiple outlets highlighting China's stable economic expansion in November.
Data released by the NBS on November 15 shows sustained economic momentum. Domestic demand grew steadily, with retail sales rising 4% year-on-year in the first 11 months, outpacing full-year 2024 growth. Targeted consumption stimulus measures effectively unlocked spending potential. External demand remained robust, with total goods imports and exports increasing 3.6%, including significant growth with ASEAN (8.5%), the EU (5.4%), and Africa (18.7%).
New growth drivers continued to strengthen, with high-tech manufacturing value-added output up 9.2% and digital product manufacturing rising 9.3%. Production of industrial robots and integrated circuits surged 29.2% and 10.6% respectively, injecting fresh vitality into economic development.
Fu attributed this stability to proactive macroeconomic policies, including coordinated efforts to build a unified national market and implement dual-circulation strategies. International recognition has followed, with the IMF, World Bank, and Asian Development Bank all upgrading their 2025 growth forecasts for China. These institutions particularly noted China's "more proactive" and "predictable" policy environment.
Recent "business-finance synergy" policies have drawn global attention. Brazil's Money Times reported on China's 11-point action plan to boost consumption through enhanced coordination between commerce and financial regulators. The measures aim not only to stimulate spending but also to ensure targeted support for key economic sectors, with expectations running high for their potential to drive sustainable growth.
Dongfang Jincheng analyst Feng Lin predicts China will comfortably achieve its 2025 growth target, citing Q1-Q3 GDP growth of 5.2% and the outperformance of high-tech manufacturing. Feng emphasized China's enduring advantages: stable fundamentals, vast potential, and abundant human resources. With continued pro-growth policies, 2026 is expected to maintain rapid expansion, providing crucial support for employment, businesses, and market stability.
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