Xi says China’s economy will hit 5% growth goal in 2025

CHINESE President Xi Jinping declared that China’s economy is set to hit its growth target in 2025, after what he called an “extraordinary year”.

China’s gross domestic product is expected to expand by around 5 per cent this year, he told an annual gathering held by the country’s top political advisory body, said the official Xinhua News Agency.

“China’s economy is forging ahead under pressure, moving towards 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 per cent, continuing to rank high among the world’s major economies,” he added.

An earlier statement said that he declared that 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.

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Yet investment is headed for its first annual contraction since 1998, and growth for retail sales have hit their worst pace outside the pandemic. New home prices fell further in November, weighed down by a property crisis.

Xi had signalled earlier 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. BLOOMBERG