China’s economy is set to achieve a staggering increment of over 35 trillion yuan ($4.89 trillion) during its 14th Five-Year Plan period (2021-2025), according to Zheng Shanjie, head of the National Development and Reform Commission (NDRC). Speaking at a press conference on China’s social and economic development, Zheng highlighted the nation’s robust growth and its commitment to high-quality development.
Despite global challenges like the pandemic and trade tensions, China’s economy grew at an average annual rate of 5.5% over the first four years of the plan. Zheng emphasized that this level of growth is unprecedented for an economy of China’s size.
Total research and development (R&D) expenditure surged nearly 50%, or 1.2 trillion yuan, from 2020 to 2024. The number of registered private enterprises surpassed 58 million by May 2025, marking an increase of over 40% compared to 2020.
Zheng pointed out tangible improvements in education, healthcare, social security, and transportation that have benefited China’s vast population. Over 95% of the population is now covered by basic medical and pension systems. Access to quality public services has expanded significantly, and high-speed rail mileage increased by over 10,000 kilometers during the plan period, enhancing mobility and logistics.
“Development must deliver for the people. Each figure reflects tangible progress in enhancing the well-being of the Chinese people,” Zheng stated.
He also noted the formation of a national unified market framework, expanded market access, and significant growth in private enterprise registrations.
Highlighting China’s commitment to green development, forest coverage now exceeds 25%, accounting for a quarter of the world’s new greening since 2020. Clean energy makes up more than one-third of national electricity consumption, and major rivers like the Yangtze and Yellow Rivers meet Class II water quality standards. “Green is becoming the defining color of high-quality development in China,” Zheng said.
China has consolidated its strategic foundations in areas like food security, energy, and manufacturing resilience. Over 1 billion mu (approximately 67 million hectares) of high-standard farmland have been built or upgraded, and the world’s largest clean energy system is now in place.
Energy consumption per unit of GDP decreased by 11.6% in the first four years of the plan. This reduction is equivalent to cutting 1.1 billion tonnes of carbon dioxide emissions, nearly 50% of the European Union’s total carbon emissions in 2024. “China’s actions fully demonstrate the responsibility of a major country,” Zheng remarked.
With fewer than 180 days before the conclusion of the 14th Five-Year Plan, Zheng expressed confidence in the nation’s future. “Looking ahead to the 15th Five-Year Plan, we remain confident and committed,” he said.
Yuan Da, secretary-general of the NDRC, emphasized the central role of domestic demand in China’s growth. “China boasts a super-sized domestic market with enormous growth potential. Domestic demand has always served as the main engine and stabilizer of the Chinese economy,” Yuan said.
From 2021 to 2024, domestic demand contributed an average of 86.4% to China’s economic growth. Consumption contributed an average of 56.2% to economic growth, an increase of 8.6 percentage points compared to the previous five-year plan.
“Without a strong domestic market, there would be no stable momentum for the Chinese economy,” Yuan added.
