(Bloomberg) — President Xi Jinping declared China’s economy is set to hit its growth target in 2025, after what he called an “extraordinary year.”
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China’s gross domestic product is expected to expand by around 5% this year, Xi told an annual gathering held by the country’s top political advisory body, according to the official Xinhua News Agency.
“China’s economy is forging ahead under pressure, moving toward innovation and quality, demonstrating strong resilience and vitality,” Xi told an annual meeting of the Chinese People’s Political Consultative Conference. “The growth rate is expected to reach around 5%, continuing to rank high among the world’s major economies.”
An earlier statement said Xi declared China had hit its economic and development goals, without specifying targets.
China’s economy fared well in 2025. Booming exports kept growth on track without additional major stimulus, while manufacturers moved up the value chain. Yet investment is headed for its first annual contraction since 1998, growth for retail sales have hit their worst pace outside the pandemic and new home prices fell further in November, weighed down by a property crisis.
Xi earlier signaled a tolerance for slower growth in some regions and even said recently that China should crack down on “reckless” projects, highlighting his focus on the quality, rather than pace, of economic growth.
Photographer: Nhac Nguyen/Getty Image
—With assistance from Fran Wang.
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