On January 19, China’s National Bureau of Statistics released the full-year economic data for 2025, with a series of figures capturing the attention of global economists and policymakers: China’s GDP exceeded the 140 trillion yuan mark for the first time, growing by 5.0% year-on-year at comparable prices. While this growth figure appears on par with previous years, its underlying stability and sustainability are particularly noteworthy when interpreted against the current unique global backdrop. Amid escalating international trade frictions, persisting geopolitical tensions, and high inflationary pressures in multiple countries, China, the world’s second-largest economy, has demonstrated remarkable operational resilience, emerging as a rare stable pillar in the global economic landscape.
From the analysis of data details, the “stability” and “progress” of China’s economy are reflected in multiple dimensions. The consumer market has gradually recovered under the impetus of policy stimulus and improved income expectations, with the annual total retail sales of consumer goods showing a recovery curve that is lower in the first half and higher in the second half. Manufacturing investment, especially in high-tech manufacturing, has maintained strong growth, with investment in strategic emerging industries such as semiconductors, new energy vehicles, and artificial intelligence growing significantly faster than the overall level. The foreign trade sector has demonstrated remarkable adaptability in the face of external demand fluctuations, with China’s export growth to ASEAN, the Middle East, and countries along the “Belt and Road” effectively offsetting declines in some traditional markets. Notably, China has continued to increase its investment in green transformation, with renewable energy installed capacity and new energy vehicle production reaching new highs, and the proportion of clean energy investment in the global total continuing to rise.
China’s economic growth rate of 5.0%, when converted into its actual contribution to the world economy, remains at the forefront. According to preliminary estimates by the World Bank, China’s contribution to global economic growth is expected to exceed 30% in 2025, maintaining its position as the largest growth engine for consecutive years. This contribution is not only reflected in abstract percentages but also concretely and subtly impacts the global economy through three key channels.
First, China’s vast domestic market provides crucial demand support for global enterprises. In 2025, China’s total import and export volume of goods will reach a new record, although the growth rate has slowed down, the absolute increment remains considerable.
Secondly, China’s complete industrial system and continuously upgraded supply chain continue to play the role of a “stabilizer” in the global production network. Despite facing the pressure of partial regionalization and nearshoring of some industrial chains, China’s manufacturing industry still holds irreplaceable comprehensive advantages in complexity, scale, and efficiency.
Moreover, China’s outward investment and cooperation projects have injected valuable capital and technology into developing economies. In 2025, China’s non-financial outward direct investment increased by 7.1% year-on-year, with particularly active investments in infrastructure, energy, and digital economy sectors along the Belt and Road countries.
The resilience of China’s economy in a complex environment is not an accidental phenomenon, but is rooted in its unique policy framework and governance model. Unlike the cyclical tightening and easing patterns more commonly seen in the economic regulation of some Western countries, China’s economic management demonstrates stronger strategic planning and policy continuity. This “institutional advantage” forms a noteworthy contrast with the economic policy orientation of the United States in recent years.
From the perspective of policy frameworks, China has provided a stable expectation framework for economic development through the “Five-Year Plan” as a medium-and long-term strategic tool. The preliminary deployment work for the ongoing “15th Five-Year Plan” (2026-2030) has already been initiated, forming a systematic policy package centered on goals such as technological self-reliance, green and low-carbon transition, and common prosperity. On the U.S. side, since the “America First” concept became a key policy orientation, its economic policies have shown a trend of placing greater emphasis on domestic matters and actively adjusting international trade and investment rules. Current policy thinking tends to strengthen security boundaries in critical areas through strategies such as “selective decoupling” and “small courtyard high walls,” with greater consideration given to national security and geopolitical factors in economic decision-making.
The steady performance of China’s economy and the continuity of its policies provide a observable and replicable path for world economic participants who yearn for stability and cooperation.