(Bloomberg) \u2014 President Xi Jinping declared China\u2019s economy is set to hit its growth target in 2025, after what he called an \u201cextraordinary year.\u201d<\/p>\n
Most Read from Bloomberg<\/p>\n
China\u2019s gross domestic product is expected to expand by around 5% this year, Xi told an annual gathering held by the country\u2019s top political advisory body, according to the official Xinhua News Agency.<\/p>\n
\u201cChina\u2019s economy is forging ahead under pressure, moving toward innovation and quality, demonstrating strong resilience and vitality,\u201d Xi told an annual meeting of the Chinese People\u2019s Political Consultative Conference. \u201cThe growth rate is expected to reach around 5%, continuing to rank high among the world\u2019s major economies.\u201d<\/p>\n
An earlier statement said Xi declared China had hit its economic and development goals, without specifying targets.<\/p>\n
China\u2019s 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.<\/p>\n
Xi earlier signaled a tolerance for slower growth in some regions and even said recently that China should crack down on \u201creckless\u201d projects, highlighting his focus on the quality, rather than pace, of economic growth.<\/p>\n
Photographer: Nhac Nguyen\/Getty Image <\/p>\n
\u2014With assistance from Fran Wang.<\/p>\n
Most Read from Bloomberg Businessweek<\/p>\n
\u00a92025 Bloomberg L.P.<\/p>\n","protected":false},"excerpt":{"rendered":"(Bloomberg) \u2014 President Xi Jinping declared China\u2019s economy is set to hit its growth target in 2025, after…\n","protected":false},"author":2,"featured_media":259954,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[174],"tags":[4932,79,381,8889,179,18,70876,19,17,3997,79322],"class_list":{"0":"post-259953","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-bloomberg","9":"tag-business","10":"tag-china","11":"tag-chinas-economy","12":"tag-economy","13":"tag-eire","14":"tag-growth-rate","15":"tag-ie","16":"tag-ireland","17":"tag-xi-jinping","18":"tag-xinhua-news-agency"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@ie\/115814706915272981","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/259953","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/comments?post=259953"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/259953\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media\/259954"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media?parent=259953"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/categories?post=259953"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/tags?post=259953"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}