China's economic performance report for 2025 has been officially released, showing that the country's GDP has surpassed the 140 trillion yuan threshold for the first time. Calculated at constant prices, the economy grew by 5.0% year-on-year, maintaining a leading growth rate among major global economies. This economic data not only represents a solid conclusion to China's 14th Five-Year Plan but also demonstrates the resilience of the Chinese economy amid complex domestic and international challenges. It further marks significant progress for a mega-sized economy transitioning toward high-quality development. At a time when global economic recovery remains challenging with increasing uncertainties, this substantial achievement underscores the robustness of China's economy and provides much-needed stability to the turbulent world economy.
In 2025, despite turbulence in global trade and the ongoing transition of domestic growth drivers, China's economy achieved a historic breakthrough in total output while maintaining stable fundamentals. The economic scale has expanded significantly. During the 14th Five-Year Plan period, China's GDP achieved four consecutive leaps, rising steadily from 110 trillion yuan to 140 trillion yuan, with an average annual growth rate exceeding 5%, leading among major global economies. The manufacturing sector's value-added has ranked first globally for 16 consecutive years. From high-end equipment to precision manufacturing, and from traditional industry upgrades to the rise of emerging sectors, manufacturing has not only served as a stabilizer for the economy but also become a primary driver of technological innovation. Grain output has remained above 1.4 trillion jin for two consecutive years, ensuring food security for over 1.4 billion people despite international price fluctuations and extreme weather, providing a fundamental guarantee for social and economic stability.
China's massive economic scale has translated into strong risk resilience. With global debt reaching $346 trillion, some countries have resorted to protectionism and unilateralism, causing multiple shocks to international supply chains. However, China's 140 trillion yuan economy has maintained a stable pattern, characterized by a solid foundation and steady growth. This stability is reflected in improved livelihoods: the average urban surveyed unemployment rate during the 14th Five-Year Plan period was 5.2%, and per capita disposable income increased by 5.0% in real terms, keeping pace with economic growth. Steady progress in pension, childcare, and healthcare services has ensured that development benefits are widely shared.
As a mega-sized economy, China's resilience stems from both its vast domestic market and continuous opening-up. In 2025, China adhered to the strategy of expanding domestic demand while stabilizing foreign trade, continuously improving the pattern of mutual promotion between domestic and international circulations. This has allowed China to maintain initiative in development despite complex international conditions. The domestic market exhibited vigorous vitality. During the May Day holiday, 1.467 billion people traveled across regions, and Shanghai's "Double Five Shopping Festival" achieved sales of 59.46 billion yuan. Green appliances, smart devices, and health products led new consumption trends, with final consumption expenditure contributing 52.0% to economic growth, making it the primary growth driver. The external market also demonstrated strong resilience. Despite global trade slowdown and geopolitical conflicts, China's goods trade reached a new high, with total import and export value growing 3.8% year-on-year. Exports of high-tech products increased by 13.2%, and trade with Belt and Road partner countries reached 17.37 trillion yuan, accelerating the formation of a diversified trade structure.
Significant changes have occurred in China's economic structure during the 14th Five-Year Plan period. The service sector's value-added continued to rise, accounting for 57.7% of GDP in 2025 and becoming the largest industry. New formats such as cultural-tourism integration and revitalization of intangible cultural heritage flourished, driving consumption upgrades toward quality and personalization. The manufacturing structure also optimized, with rapid development in strategic emerging industries such as high-end equipment, new materials, and biopharmaceuticals. Traditional manufacturing achieved quality and efficiency improvements through technological transformation, forming a coordinated development pattern. Regional development strategies advanced in a balanced manner. Economic hubs like the Yangtze River Delta and Pearl River Delta continued to play leading roles, highlighting strengths in innovation, industrial agglomeration, and openness, serving as key engines for global growth. Central and western regions, leveraging resources and policy support, successfully attracted industrial transfers, improved infrastructure, and enhanced industrial competitiveness, narrowing regional disparities.
The rise of "Guochao" (China chic) has become a notable trend. Popular products from companies like Haier and Hisense met consumer demands with high quality and affordability, while intangible cultural heritage brands such as Baoqing Silver Tower revitalized traditional culture through innovative designs, achieving a 50% sales increase. This demonstrates the strong potential of domestic brand consumption. Quality improvements on the supply side and consumption upgrades on the demand side have formed a virtuous cycle, boosting domestic demand and industrial upgrading, thereby strengthening the foundation for sustainable economic development.
China's economic achievements are closely linked to high-level opening-up. The Hainan Free Trade Port has steadily advanced its island-wide customs closure operation. The implementation of a 240-hour visa-free transit policy for citizens of 55 countries has facilitated cross-border flows. Since the customs closure, inbound tourists increased by 37% year-on-year, and goods imports reached 18.5 trillion yuan. Hainan is becoming a frontline hub for China's opening-up, providing important access to the Chinese market for global partners. The Belt and Road Initiative has progressed with high quality. China has established major trade partnerships with over 150 countries and regions, signed cooperation documents with more than 30 international organizations, and extended zero-tariff treatment to all least-developed countries with diplomatic ties. This high-level opening-up integrates China more deeply into the global economy and allows the world to benefit from China's development.
In recent years, China has prioritized technological innovation, with continuous increases in R&D investment, enhanced innovation capabilities, and vigorous development of emerging industries. New quality productive forces are reshaping economic growth with dynamic energy, adding substantial value to the 140 trillion yuan economy. China's R&D spending now accounts for 2.8% of GDP, exceeding the average of OECD countries for the first time, marking a new phase of stable investment and quality improvement in innovation. Supported by intensive R&D investment, China's innovation index ranking has entered the global top ten, with increasing areas transitioning from following to paralleling and leading global trends. Breakthroughs in key technologies—from quantum communication and artificial intelligence to biopharmaceuticals and aerospace—have provided robust support for emerging industries.
Overall, China's economy in 2025 has demonstrated resilience under pressure and孕育 new opportunities during transformation. Its strength lies not in the absence of challenges, but in its steady navigation through turbulence and clear direction for the future. Building on the solid foundation of the 14th Five-Year Plan and embarking on the 15th Five-Year Plan journey, China's economy is fully equipped, capable, and confident to sail steadily toward high-quality development.