China’s ambitious 5% economic growth target for 2025 is within reach, officials said this week, emphasizing post-COVID recovery momentum and a wave of tech-driven innovation. Here’s why analysts say it’s more than just optimism:
Economic Momentum & Policy Push
State Council researcher Shen Danyang highlighted China’s Q4 2024 growth rebound to 5.4% and rising PMI indexes as proof of 'strengthening recovery.' New sectors like AI, renewable energy, and EVs are fueling expansion, while property market risks 'gradually weaken.'
Jobs & Innovation in Focus
With 12.22 million college graduates entering the workforce this year, employment support is a priority. Officials also stressed boosting confidence in private businesses through fair competition policies and financing reforms.
AI as Growth Multiplier
Deputy researcher Chen Changsheng pointed to global excitement around China’s 'AI Plus' strategy, which aims to merge digital tech with manufacturing. 'Imagine AI-powered factories and smart homes,' he said – a vision backed by China’s massive $6.9 trillion annual consumption market.
While challenges remain, officials say 'proactive policies' will keep China on track. As Shen noted: 'Our toolkit has options – we’re ready to adapt.'
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Officials explain why China's 2025 growth target is attainable
cgtn.com