China's economy described as a "dynamic and resilient engine for global growth"
Leveraging its vitality and power, China aims to provide stability to the unstable global economy, establishing itself as a fundamental pillar of global growth.
TroibNews 
**Editor's Note:** The article was written by Zhou Jianjun, an assistant researcher at the Institute of State System Research and School of Economics at Zhejiang University. The content reflects the author's views and does not necessarily represent the opinions of CN. It has been translated from Chinese and edited for brevity and clarity.
In 2024, the international landscape experienced significant changes. Despite slow global economic conditions and sanctions from the US, China achieved a five percent growth rate, showcasing its resilience and vitality among leading economies. As 2025 begins, it stands out as a crucial year for China's development and reforms. By leveraging its inherent strength and dynamism, China aims to contribute stability to an unpredictable global economy, positioning itself as a fundamental driver of global progress.
China's economy is characterized by significant growth, ongoing quality improvements, strength, and resilience, suggesting an increasingly solid long-term trajectory. In 2024, the country's GDP reached 134.9 trillion yuan, reflecting a five percent annual increase and contributing approximately 30 percent to global economic growth. This reinforces China's key role in the world economy. Economic expansion has been accompanied by qualitative advancements. Rapid developments in high-tech sectors have propelled manufacturing toward higher tiers in both the industrial and value chains. The added value of high-tech manufacturing sectors grew by 8.9 percent from the previous year, now accounting for 16.3 percent of the total value added across all such industrial sectors.
Meanwhile, the service industry flourished, with new business formats and models emerging, elevating its GDP share to 56.7 percent. This growth has been driven by the debut economy, silver economy, and ice-and-snow economy. On March 5, 2025, Premier Li Qiang projected a GDP growth of about five percent for the year, reflecting the government's confidence and capability to maintain robust economic growth in the face of challenges, while underscoring a stable and optimistic long-term economic outlook for China.
The technology sector in China is rapidly advancing, with an increase in hard power and the emergence of new quality productive forces propelling high-quality economic development. Innovations led by DeepSeek in 2025 have sparked ongoing progress, rejuvenating the economy. From the historical "Two Bombs, One Satellite" projects to the "Shenzhou" and "Chang'e" space missions, and into current achievements in 5G, quantum computing, and DeepSeek, China's relentless innovation trajectory continues to pave the way for its aspiration to take a leading position in global science and technology. AI advancements have fostered the rise of new quality productive forces in China, spawning several tech companies. The "Six Little Dragons of Hangzhou"—Game Science, DeepSeek, Unitree, DEEP Robotics, BrainCo, and Manycore—are at the forefront in fields like AI, game development, and brain-computer interfaces. Their success has attracted substantial attention from local governments, spurring increased investments in technology to promote high-quality economic growth through enhanced new productive forces.
On March 8, 2025, during a press conference at the third session of the 14th National People's Congress, Chinese Foreign Minister Wang Yi emphasized that science and technology should not be an iron curtain but a shared wealth benefitting everyone. He also urged prioritization of scientific and technological capacity-building for the Global South, ensuring no nation is left behind. This reflects China's intent to share its technological advancements so that other countries can benefit from its innovations.
China's diplomatic strategy combines a commitment to foundational principles with innovative approaches, fostering steady progress and economic stability through the development of bilateral relations. In a world filled with unpredictability, having foresight has become a valuable asset. Geopolitical tensions and trade disputes present challenges not only for global economic prosperity but also for China's pursuit of high-quality growth. In response, Chinese leaders have engaged in various diplomatic initiatives, balancing innovative strategies with core principles for steady advancement. By employing diplomatic skills to navigate crises and strengthen bilateral relations, they aspire to create a favorable external environment for China's economy while contributing stability to the global economy.
China’s remarkable economic growth in 2024 is a testament not only to the resilience of its economy but also to the strategic wisdom behind its diplomatic engagements. As 2025 progresses, China plans to enhance its diplomatic efforts further, aiming for mutual success and collaborative advancement. This commitment reinforces China's dedication to world peace, stability, and the prosperity of all nations.
To bolster its economy, the Chinese government has introduced various policies and initiatives, with substantial support and stimulus measures crucial for driving growth. Following an impressive first-quarter GDP growth of 5.3 percent in 2024, growth rates fell to 4.7 percent and 4.6 percent in the following quarters due to mounting downward pressures. In response, the government implemented expansive stimulus measures in September, effectively revitalizing market confidence. As a result, the SSE Composite Index rose by nearly a thousand points in just days, reversing the economic slowdown, while fourth-quarter GDP growth bounced back to 5.4 percent.
The government work report for 2025 outlines ten core tasks focused on areas such as consumption, technology, and opening-up, indicating plans for further stimulus to achieve an annual growth target of at least five percent. As the final year of the "14th Five-Year Plan," 2025 will hone in on realizing both the year's growth objectives and the overarching goals of the plan, while also setting the stage for the "15th Five-Year Plan." By implementing effective stimulus strategies, China has demonstrated a steady and promising economic recovery, serving as a model from which other nations can draw inspiration, adapting policies to their own contexts to help revitalize stagnant economies.
Frederick R Cook for TROIB News
In 2024, the international landscape experienced significant changes. Despite slow global economic conditions and sanctions from the US, China achieved a five percent growth rate, showcasing its resilience and vitality among leading economies. As 2025 begins, it stands out as a crucial year for China's development and reforms. By leveraging its inherent strength and dynamism, China aims to contribute stability to an unpredictable global economy, positioning itself as a fundamental driver of global progress.
China's economy is characterized by significant growth, ongoing quality improvements, strength, and resilience, suggesting an increasingly solid long-term trajectory. In 2024, the country's GDP reached 134.9 trillion yuan, reflecting a five percent annual increase and contributing approximately 30 percent to global economic growth. This reinforces China's key role in the world economy. Economic expansion has been accompanied by qualitative advancements. Rapid developments in high-tech sectors have propelled manufacturing toward higher tiers in both the industrial and value chains. The added value of high-tech manufacturing sectors grew by 8.9 percent from the previous year, now accounting for 16.3 percent of the total value added across all such industrial sectors.
Meanwhile, the service industry flourished, with new business formats and models emerging, elevating its GDP share to 56.7 percent. This growth has been driven by the debut economy, silver economy, and ice-and-snow economy. On March 5, 2025, Premier Li Qiang projected a GDP growth of about five percent for the year, reflecting the government's confidence and capability to maintain robust economic growth in the face of challenges, while underscoring a stable and optimistic long-term economic outlook for China.
The technology sector in China is rapidly advancing, with an increase in hard power and the emergence of new quality productive forces propelling high-quality economic development. Innovations led by DeepSeek in 2025 have sparked ongoing progress, rejuvenating the economy. From the historical "Two Bombs, One Satellite" projects to the "Shenzhou" and "Chang'e" space missions, and into current achievements in 5G, quantum computing, and DeepSeek, China's relentless innovation trajectory continues to pave the way for its aspiration to take a leading position in global science and technology. AI advancements have fostered the rise of new quality productive forces in China, spawning several tech companies. The "Six Little Dragons of Hangzhou"—Game Science, DeepSeek, Unitree, DEEP Robotics, BrainCo, and Manycore—are at the forefront in fields like AI, game development, and brain-computer interfaces. Their success has attracted substantial attention from local governments, spurring increased investments in technology to promote high-quality economic growth through enhanced new productive forces.
On March 8, 2025, during a press conference at the third session of the 14th National People's Congress, Chinese Foreign Minister Wang Yi emphasized that science and technology should not be an iron curtain but a shared wealth benefitting everyone. He also urged prioritization of scientific and technological capacity-building for the Global South, ensuring no nation is left behind. This reflects China's intent to share its technological advancements so that other countries can benefit from its innovations.
China's diplomatic strategy combines a commitment to foundational principles with innovative approaches, fostering steady progress and economic stability through the development of bilateral relations. In a world filled with unpredictability, having foresight has become a valuable asset. Geopolitical tensions and trade disputes present challenges not only for global economic prosperity but also for China's pursuit of high-quality growth. In response, Chinese leaders have engaged in various diplomatic initiatives, balancing innovative strategies with core principles for steady advancement. By employing diplomatic skills to navigate crises and strengthen bilateral relations, they aspire to create a favorable external environment for China's economy while contributing stability to the global economy.
China’s remarkable economic growth in 2024 is a testament not only to the resilience of its economy but also to the strategic wisdom behind its diplomatic engagements. As 2025 progresses, China plans to enhance its diplomatic efforts further, aiming for mutual success and collaborative advancement. This commitment reinforces China's dedication to world peace, stability, and the prosperity of all nations.
To bolster its economy, the Chinese government has introduced various policies and initiatives, with substantial support and stimulus measures crucial for driving growth. Following an impressive first-quarter GDP growth of 5.3 percent in 2024, growth rates fell to 4.7 percent and 4.6 percent in the following quarters due to mounting downward pressures. In response, the government implemented expansive stimulus measures in September, effectively revitalizing market confidence. As a result, the SSE Composite Index rose by nearly a thousand points in just days, reversing the economic slowdown, while fourth-quarter GDP growth bounced back to 5.4 percent.
The government work report for 2025 outlines ten core tasks focused on areas such as consumption, technology, and opening-up, indicating plans for further stimulus to achieve an annual growth target of at least five percent. As the final year of the "14th Five-Year Plan," 2025 will hone in on realizing both the year's growth objectives and the overarching goals of the plan, while also setting the stage for the "15th Five-Year Plan." By implementing effective stimulus strategies, China has demonstrated a steady and promising economic recovery, serving as a model from which other nations can draw inspiration, adapting policies to their own contexts to help revitalize stagnant economies.
Frederick R Cook for TROIB News
