President Xi Jinping says China’s economy is expected to have grown around 5% in 2025, meeting the official target despite significant challenges.
BEIJING: President Xi Jinping said China’s economy is expected to have grown around 5% in 2025, meeting the official government target.
He made the announcement in a New Year’s Eve speech to the Chinese People’s Political Consultative Conference, as reported by state news agency Xinhua.
Such growth would match the 5% expansion recorded in 2024.
Xi described the past year as “very unusual” and acknowledged the economy had faced pressure.
“We faced challenges head-on and strived diligently, successfully achieving the main goals of economic and social development,” he said.
The world’s second-largest economy has been under strain from a property sector debt crisis and weak consumer sentiment.
Industrial overcapacity and heightened trade tensions with Washington have also clouded the outlook.
Xi added that “overall social stability was maintained” during the year.
He also stated that an anti-corruption drive was “relentlessly pursued”.
Data released on Wednesday offered a positive sign as factory activity in December edged into expansionary territory.
This snapped an eight-month streak of contraction for the manufacturing sector.
Experts widely expect Beijing to announce a similar economic growth target for 2026 in early March.
