At the 10th New Finance Forum held in Beijing on November 28, 2025, former Vice Minister of Finance Zhu Guangyao delivered a keynote speech, emphasizing China's global leadership in green economic development.
Zhu highlighted that China's green economy is now at the forefront worldwide. By the end of 2024, China's installed photovoltaic capacity exceeded 1 billion kilowatts, accounting for over 50% of the global total. Additionally, the country's wind power capacity reached 520 million kilowatts, representing more than 45% of the world's total. In 2024, China produced 13 million electric vehicles, constituting approximately 70% of global EV production.
While acknowledging these achievements, Zhu also pointed out ongoing challenges in the new energy sector, noting that global competition in energy remains intense.
Zhu underscored that China's modernization is characterized by high-quality development, common prosperity, and harmony between humanity and nature. The "14th Five-Year Plan" period saw China's GDP grow by RMB 40 trillion, with per capita GDP rising from $10,500 in 2020 to $13,445 in 2024. He projected that China's economy would reach RMB 140 trillion in 2025, maintaining steady growth.
Looking ahead to the "15th Five-Year Plan," Zhu expressed confidence in China's ability to sustain annual growth of 4.5%–5%, laying a solid foundation for achieving socialist modernization by 2035. By then, China's GDP is expected to surpass RMB 200 trillion, doubling the 2020 level, with per capita GDP exceeding $20,000.
However, Zhu cautioned about external challenges, particularly intensified competition with major economies. He cited the U.S. "Cross-Century Plan," which prioritizes AI-driven scientific breakthroughs, advanced manufacturing, biopharmaceuticals, critical materials, nuclear fusion, and semiconductors. U.S. Treasury Secretary Benson emphasized AI as the decisive battleground in this rivalry.
Zhu concluded by stressing the need to leverage China's strengths to overcome uncertainties and secure development goals during the "15th Five-Year Plan" period.