China confident of achieving 5% economic growth target for 2025

China is fully confident in reaching the economic growth target of around 5 per cent this year, Zheng Shanjie, Head of the National Development and Reform Commission, told a press conference in Beijing.

- 

According to China Central Television (CCTV), Chinese Premier Li Qiang articulated the objective while presenting the government work report at the annual session of the national legislature.

"The 5 per cent economic growth target for this year is a prudent goal set by the Central Committee of the Communist Party of China and the State Council after comprehensive research, scientific analysis, and systematic balance. Through comprehensive analysis, China boasts institutional advantages, market potential, and vibrant enterprises," Zheng said.

Zheng highlighted the robust performance of China's economy in 2024, noting the significant growth and high quality.

"In 2024, the contribution of new industries, new business forms, and new business models to China's GDP exceeded 18 per cent, showing a continual upward trend.

The value added of high-tech manufacturing grew by 8.9 per cent, surpassing the growth rate of value added of industrial enterprises above a designated size by 3.1 percentage points," he said.

Meanwhile China's non-manufacturing sector continued to expand in February, reflecting a steady recovery momentum in economic output, according to official data released.