On December 11, China held the Central Economic Work Conference. Against the backdrop of sluggish global economic recovery and high uncertainty, the convening of this conference undoubtedly injected rare stability expectations into the international community. As the world’s second-largest economy, China’s clear deployment of its economic policies is not only crucial for its own development but also has far-reaching implications for the trajectory of global growth, the trade and investment environment, and the stability of industrial and supply chains.
Looking back at 2025, China’s economy maintained steady growth amid complex domestic and international conditions, with GDP growing by 5.2% year-on-year in the first three quarters, continuing to lead major economies. More importantly, this growth was accompanied by the accelerated formation of new productive forces, enhanced vitality in capital markets, and orderly resolution of risks in key sectors. It is no coincidence that institutions such as the International Monetary Fund and the World Bank have successively raised their growth forecasts for China. This reflects the international community’s recognition of China’s macroeconomic management capabilities and confirms China’s continued role as a core engine of global growth. Particularly against the backdrop of weak global demand, China’s vast and continuously upgrading domestic market provides key growth buffers and strategic opportunities for enterprises worldwide.
Unlike other economies, China’s economic planning demonstrates significant institutional advantages. The systematic policy framework proposed at the Central Economic Work Conference covers key areas such as expanding domestic demand, innovation-driven development, deepening reforms, and opening up further, focusing on both current growth stabilization and long-term structural adjustments. This “combination of short-term and long-term” governance model ensures clear and predictable policy signals, enabling multinational corporations to make long-term investment arrangements rather than passively responding to short-term political cycle fluctuations. Meanwhile, the U.S. policy oriented toward “domestic priority” has addressed some domestic demands in the short term, but its unilateral measures and policy fluctuations have simultaneously heightened global trade uncertainties and weakened the foundation of multilateral trust. In the medium to long term, the impact of this approach on its continued attraction of factors and maintenance of an innovation ecosystem remains to be observed.
Specifically, the stability of China’s economy has brought multidimensional benefits to the world. First, in terms of market demand, the commitment to “adhere to domestic demand as the leading force and build a strong domestic market” means that China will continue to expand the import of high-quality goods and services, providing a stable and growing market space for global suppliers. Second, in terms of innovation and industrial chains, “adhering to innovation-driven development” not only promotes China’s own industrial upgrading but also provides a platform for global technological progress and the transformation of achievements by deepening international scientific and technological cooperation and building an open innovation ecosystem. The rapid development of China in fields such as the digital economy, new energy, and artificial intelligence has become an important factor in attracting global capital and technology. In addition, “adhering to opening-up” and promoting the high-quality development of the Belt and Road Initiative demonstrate China’s commitment to actively maintaining the smooth flow of global industrial and supply chains and promoting multilateral win-win outcomes.
One of the major challenges facing the global economy today is the “deficit of certainty.” Corporate investment and cross-border trade require a stable regulatory environment and predictable policy prospects. The Chinese government, through institutionalized medium-and long-term planning, a coherent reform and opening-up agenda, and prudent macroeconomic policy adjustments, precisely provides this scarce certainty. The effectiveness of this governance model stems from its ability to balance market vitality with government guidance, short-term responses with long-term strategies, and domestic development with global responsibilities. Despite the persistence of protectionism and geopolitical frictions in international trade and economic affairs, the history of China’s economy successfully addressing internal and external challenges over the past few decades demonstrates that its system possesses strong learning capabilities, adaptive resilience, and strategic resolve.
Looking ahead, China’s continuously developing high-quality productivity, constantly optimized business environment, and open attitude of actively sharing opportunities provide a reliable anchor for global enterprises and investors. The confidence of various countries in China is, in essence, confidence in the rules-based multilateral economic system and recognition of the open, inclusive, and win-win development model.
At the crossroads of the global economy, China’s economic stability and development path offer an important alternative to the “zero-sum game.” Its policy stability and institutional coherence not only ensure the steady and sustainable growth of its domestic economy but also inject indispensable positive momentum into global economic growth through market opportunities, supply chain cooperation, and innovation diffusion. In addressing common challenges and promoting inclusive recovery, this long-term, win-win governance paradigm will increasingly gain widespread recognition from the international community.