China's economy continues to maintain stable and progressive development, demonstrating strong resilience and promising prospects. As we look ahead to 2026, accurately grasping economic trends and scientifically planning development strategies will be crucial for consolidating and enhancing the current recovery momentum.
Stability remains the cornerstone of China's economic fundamentals. In the first three quarters, GDP grew by 5.2% year-on-year, accelerating by 0.2 and 0.4 percentage points compared to the previous year and the same period last year respectively. Employment remained stable with an average urban surveyed unemployment rate of 5.2%, unchanged from the first half of the year. Foreign trade showed remarkable resilience, with goods import and export volumes hitting record highs for the same period. Foreign exchange reserves remained above $3.3 trillion by the end of September, while the RMB exchange rate stabilized with a slight upward trend.
Building upon this stable foundation, China's economic restructuring and transformation are advancing steadily. In 2025, high-quality development made solid progress with accelerated formation of new productive forces. Equipment manufacturing and high-tech manufacturing accounted for 35.9% and 16.7% of value-added output respectively, reflecting significant industrial upgrading. China's global innovation index ranking rose to 10th place, highlighting its growing innovation leadership. Investment in equipment and tools increased by 14% year-on-year, while emerging industries like lithium-ion battery manufacturing and new energy vehicles maintained rapid growth.
China's economic resilience has proven fundamental in navigating uncertainties. Despite external challenges and domestic demand constraints, the economy has demonstrated remarkable adaptability. Looking to 2026, the deepening technological revolution, global green transition consensus, and digital-real economy integration will create new growth drivers. Structural transformations including consumption upgrading, industrial transformation, and technological innovation integration will further power economic development.
With strengthened stability foundations, enhanced growth momentum, and increasingly prominent resilience characteristics, China's economy is well-positioned for sustained progress. This forms the basis for confidence as the nation works toward its modernization goals.