China’s economy meets annual growth target in 2025
Figures from the National Bureau of Statistics indicate that the country’s gross domestic product surpassed 140 trillion yuan (around $20 trillion).
Despite challenges from weak domestic demand, deflationary pressures, a prolonged slump in the real estate sector, and uncertainties related to US tariff policies, China’s growth matched the government’s target of roughly 5%. Official records show the economy grew 2.2% in 2020, 8.4% in 2021, 3% in 2022, 5.2% in 2023, and 5% in 2024.
Data show industrial output rose 5.9% in 2025, with the services sector growing 5.4%. Retail sales, a key measure of consumption and domestic demand, increased by 3.7%.
By contrast, fixed-asset investment—which covers infrastructure, real estate, machinery, and equipment—fell 3.8% year-on-year. The decline was largely driven by the property market, where investment dropped 17.2%, extending a three-year downturn.
China’s strong external trade performance helped offset domestic weaknesses. The nation’s trade surplus reached $1.19 trillion in 2025, marking the first time the surplus exceeded $1 trillion in a single year.
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