CGTN published an article on China’s economic performance in 2025, highlighting that high-quality development will remain at the core of China’s economic and social agenda over the next five years.

Despite a complex mix of domestic and external challenges, China’s economy grew by 5 percent in 2025, meeting its preset target and posting a strong performance by global standards.

According to data from the National Bureau of Statistics (NBS), China’s GDP reached a record 140.19 trillion yuan (about $20.01 trillion) last year, reflecting progress in high-quality development.

In October 2025, the Communist Party of China (CPC) concluded a pivotal meeting that approved recommendations for the country’s 15th Five-Year Plan, a strategic blueprint guiding national development from 2026 to 2030. The recommendations underscore that high-quality development will remain at the core of China’s economic and social agenda over the next five years while reaffirming economic development as the central task.

Driven by rising consumption, resilient exports and continued technological innovation, China’s economy demonstrated strong resilience and vitality in 2025, delivering robust, high-quality growth.

Boosting consumption

In 2025, China’s retail sales of consumer goods, a major indicator of the country’s consumption strength, climbed 3.7 percent year on year, exceeding 50 trillion yuan for the first time, according to the NBS data. Measured by consumption volume, the country has become the world’s largest market across multiple key sectors and product categories.

A broader consumption upgrade was unfolded last year, as new scenarios and business models generate fresh demand, a quality-for-value mindset reshapes choices, and service spending takes a larger share.

The consumer goods trade-in program boosted sales across multiple categories, including home appliances, kitchen and bathroom ware, and telecommunications devices. It generated sales of 3.92 trillion yuan in 2024 and 2025, benefiting consumers on 494 million occasions.

The low-altitude economy is moving from concept to daily life, becoming a vivid example of how new scenarios and business models are creating fresh demand. Drones are increasingly serving as “delivery runners” while helicopter sightseeing offers travelers a brand-new aerial view of mountains, rivers and cityscapes.

Last year, spending on services accounted for 46.1 percent of per capita consumption. This shift is being fueled by nationwide efforts to innovate consumer services and improve the overall consumption environment, with strong momentum in sectors such as culture, tourism, entertainment and sporting events.

In 2026, China will put more effort into stimulating service consumption, optimizing consumer goods trade-in policies, and tapping the spending power of smaller cities to further unleash the consumption potential of 1.4 billion people.

Chinese Commerce Minister Wang Wentao pinpointed a range of high-potential service sectors – from transport, housekeeping, online audio-visual content and extended-stay tourism, to emerging areas like live performances, sports events, gaming and emotional or experiential services – as priorities for policy support and market expansion.

High-standard opening up

China’s foreign trade continued its growth in 2025, rising 3.8 percent year on year to reach 45.47 trillion yuan, according to the General Administration of Customs. This marks the ninth consecutive year of expansion since 2017.

In 2025, China’s trade network continued to expand, covering more than 240 countries and regions worldwide, with import and export values growing in over 190 of these markets.

Notably, trade with countries participating in the Belt and Road Initiative (BRI) became a key growth engine. China’s trade with BRI partner countries reached 23.6 trillion yuan, up 6.3 percent year on year, accounting for 51.9 percent of the country’s total foreign trade value.

In addition, China’s export structure has undergone remarkable upgrading, with exports becoming increasingly greener and more technology-intensive. The country’s exports of high-tech products totaled 5.25 trillion yuan in 2025, up 13.2 percent year on year.

During the annual Central Economic Work Conference held last December, China emphasized efforts to support service exports, actively develop digital and green trade, reform and improve systems to promote foreign investment, and enhance overseas integrated service systems.

Citing the Recommendations of the CPC Central Committee for Formulating the 15th Five-Year Plan for Economic and Social Development, Wang Wentao said the country will take the initiative to open wider in the 15th Five-Year Plan period.

Stressing that the BRI is not a “solo performance” but a “chorus,” Wang said China will expand collaboration with partner countries in green development, digital economy and AI, and will make full use of various trade promotion platforms such as the China International Import Expo to better facilitate import trade, and optimize the sources and structure of imported goods to better meet the needs of industrial development and people’s pursuit of a better life.

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