Beijing, April 4: In 2025, China demonstrated strong performance with a GDP growth rate of 5%, reaching a total GDP of 140.19 trillion yuan. The country created 12.67 million new jobs in urban areas, maintaining an average unemployment rate of 5.2%. There was a diversification in exports, and foreign trade saw significant growth.
Major breakthroughs occurred in technology and industry, with annual R&D spending increasing by an average of 10%. The number of high-value invention patents surged. The manufacturing sector has remained the world leader in value-added for 16 consecutive years. Rural incomes have risen, and living standards improved following poverty alleviation efforts. Overall, China successfully completed its 14th Five-Year Plan.
During the recent Two Sessions meeting in Beijing, Premier Li Qiang presented the government’s work report, outlining economic targets and plans for 2026, marking the first year of the 15th Five-Year Plan.
For 2026, the government has set a GDP growth target of 4.5% to 5%. This target is considered realistic amid global uncertainties, although officials aim to exceed it. The focus is on high-quality development rather than merely rapid growth. The unemployment rate is targeted to remain around 5.5%, with over 12 million new jobs expected and a Consumer Price Index (CPI) inflation rate of approximately 2%.
The government’s primary focus is on boosting domestic demand. Plans are in place to increase incomes for low-wage earners, improve property income, and strengthen social security. Services for the elderly will expand, and families with children will receive support. Holidays will be ensured. Additionally, there will be an emphasis on innovation, AI, quantum technology, and green energy. The goal is to achieve self-reliance in technology, upgrade industries, and reduce carbon emissions through green development. These efforts are expected to stabilize and accelerate China’s economy, laying a strong foundation for doubling per capita GDP by 2035.
This progress will positively impact the world. As the second-largest economy globally, strong growth in China could strengthen global supply chains, increase demand for commodities, and provide export opportunities for many countries. China’s contributions to green technology and innovation will aid in combating climate change, while projects like the Belt and Road Initiative will benefit developing nations. Overall, China’s steady progress could provide a significant boost to the global economy.
Arpit Soni has had a passion for journalism since the beginning. Now he has turned this hobby into his profession. Arpit, who is a resident of Udaipur, enjoys editing and writing news related to journalism. He has worked as a Senior Content Producer in several important roles at Bhaskar, Patrika, Pratahkal, Punjab Kesari, and Times. Arpit completed his schooling in Udaipur and Jaipur. He has been working in the media industry for more than 10 years, and his journey is still continuing. ✍️📚
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