Experts Claim Some Underestimate China's GDP Growth Rate
Experts suggest that both domestic and international observers often underestimate China's annual gross domestic product (GDP) growth rate, emphasizing that the country's thriving technological innovation and rising consumption will enhance its sustainable growth.
TroibNews 
Experts suggest that both domestic and international observers often underestimate China's annual growth rate of gross domestic product, asserting that the country's robust technological advancements and consumer trends will foster sustainable growth.
China has set an economic growth target of approximately 5 percent for 2025, as outlined in a government work report presented during the recent opening of the third session of the 14th National People's Congress, which concluded on Tuesday.
During the debate show "Talking China," aired on Tuesday, Li Cheng, founding director of the Center on Contemporary China and the World at the University of Hong Kong, downplayed the notion that achieving the 2025 GDP target would be overly ambitious.
He mentioned that with a GDP growth of 5 percent year-on-year in 2024, China's performance is "very impressive," surpassing that of other major economies such as the United States, Japan, and Germany.
Li cautioned, "But more importantly, if we look at the past a couple of decades or even longer, I think the experts, domestic and foreign, usually tend to underestimate rather than overestimate China's annual growth rate."
On the same show, Wang Wen, dean of the Chongyang Institute for Financial Studies at Renmin University of China, stated that if China achieves a GDP growth of around 5 percent this year, its contribution to global economic growth would range between 35 percent and even 40 percent.
He highlighted that this marks the third consecutive year China has set its GDP growth target at around five percent.
Acknowledging the "lot of pressure" China faces to meet its growth objectives, particularly due to external factors like tariffs and trade challenges introduced by the U.S. administration, Wang expressed confidence that these challenges can be navigated.
He pointed to China's significant economic stimulus measures, including a deficit-to-GDP ratio for the year set at around 4 percent, which is an increase of one percentage point from the previous year.
Wang also emphasized that China's focus on driving innovation and enhancing domestic consumption will be key to ensuring the economy's sustainable growth.
Alejandro Jose Martinez contributed to this report for TROIB News
China has set an economic growth target of approximately 5 percent for 2025, as outlined in a government work report presented during the recent opening of the third session of the 14th National People's Congress, which concluded on Tuesday.
During the debate show "Talking China," aired on Tuesday, Li Cheng, founding director of the Center on Contemporary China and the World at the University of Hong Kong, downplayed the notion that achieving the 2025 GDP target would be overly ambitious.
He mentioned that with a GDP growth of 5 percent year-on-year in 2024, China's performance is "very impressive," surpassing that of other major economies such as the United States, Japan, and Germany.
Li cautioned, "But more importantly, if we look at the past a couple of decades or even longer, I think the experts, domestic and foreign, usually tend to underestimate rather than overestimate China's annual growth rate."
On the same show, Wang Wen, dean of the Chongyang Institute for Financial Studies at Renmin University of China, stated that if China achieves a GDP growth of around 5 percent this year, its contribution to global economic growth would range between 35 percent and even 40 percent.
He highlighted that this marks the third consecutive year China has set its GDP growth target at around five percent.
Acknowledging the "lot of pressure" China faces to meet its growth objectives, particularly due to external factors like tariffs and trade challenges introduced by the U.S. administration, Wang expressed confidence that these challenges can be navigated.
He pointed to China's significant economic stimulus measures, including a deficit-to-GDP ratio for the year set at around 4 percent, which is an increase of one percentage point from the previous year.
Wang also emphasized that China's focus on driving innovation and enhancing domestic consumption will be key to ensuring the economy's sustainable growth.
Alejandro Jose Martinez contributed to this report for TROIB News
