China’s economy has started 2025 on a high note, showing strong growth momentum that’s catching global attention. Official data released by the National Bureau of Statistics (NBS) on Monday reveals that key economic indicators have surged, pointing towards a promising year ahead.
Strong Industrial Performance
In January and February 2025, China’s value-added industrial output, a critical gauge of economic activity, increased by 5.9% compared to the same period last year. February alone saw a 0.51% growth from January, indicating steady industrial expansion.
Investment on the Rise
The nation’s fixed-asset investment reached a staggering 5.26 trillion yuan (approximately $734 billion) during the first two months, marking a 4.1% year-over-year increase. Notably, investment in infrastructure construction rose by 5.6%, while manufacturing investment jumped by 9%.
Boost in Services and Retail
The services sector wasn’t left behind, registering accelerated growth with a 5.6% increase in its official production index. Retail sales of consumer goods climbed 4% year-over-year to over 8.37 trillion yuan, showcasing the robust consumer confidence in the market.
Stable Employment
Employment figures remained stable, with the average surveyed urban unemployment rate standing at 5.3%. This stability in the job market contributes to the overall economic health and consumer spending power.
Optimism for the Year Ahead
Fu Linghui, spokesperson for the NBS, attributed this positive momentum to effective macroeconomic policies and a proactive fiscal approach. Fu emphasized that with the strong start, China is well-positioned to achieve its full-year growth target of around 5% for 2025.
Favorable Conditions for Continued Growth
Looking forward, China possesses multiple favorable conditions to maintain stable and healthy economic development. The country’s solid industrial foundations, advancements in new growth drivers like artificial intelligence, and a massive market of over 1.4 billion people offer immense growth potential.
Reform and Opening Up
Fu highlighted that ongoing reforms and opening-up policies are vital for sustaining progress. Over 300 reform initiatives introduced last year are expected to further stimulate productivity and inject vitality into the economy.
Meeting the 2025 Targets
As 2025 marks the final year of China’s 14th Five-Year Plan, efforts are intensifying to meet national development goals. Fu stressed the importance of seizing current economic recovery opportunities, enhancing the implementation of macroeconomic policies, and deepening reforms to achieve the nation’s objectives.
