China’s Economy in 2025: GDP Reaches 5.0% Growth Despite Challenges

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China’s economy in 2025 recorded GDP growth of 5.0 percent, meeting the government’s annual target despite a challenging domestic and external environment. Services and advanced manufacturing provided key support, while consumption and investment recovery remained uneven. The data highlights the structural transition shaping China’s economic outlook as the country enters the 15th Five‑Year Plan period.

China concluded 2025 with economic growth meeting its official target, marking a steady end to the 14th Five‑Year Plan period. According to data released by the National Bureau of Statistics (NBS) on January 19, 2026, China’s gross domestic product (GDP) expanded by 5.0 percent year‑on‑year in 2025, despite persistent domestic demand weakness and external uncertainty.

For foreign investors, however, the significance of the 2025 data lies less in the headline growth figure and more in the composition of growth, as well as the policy signals it sends as China transitions into the 15th Five-Year Plan period (2026–2030). While overall performance suggests macro stability, underlying sectoral trends indicate that the economy is continuing to rebalance toward industrial upgrading, services, and external markets.

China’s Economy in 2025: A Snapshot

  1. GDP: RMB 140.19 trillion (US$19.6 trillion), +5.0% real YoY; quarterly growth eased from 5.4% (Q1) to 4.5% (Q4); Q4 QoQ +1.2%.
  2. Sector breakdown: Primary +3.9%, Secondary +4.5%, Tertiary +5.4% (services led growth).
  3. Industry: Value‑added +5.9%; equipment manufacturing +9.2%; high‑tech manufacturing +9.4%.
  4. Manufacturing sentiment: December industrial output +5.2% YoY; PMI 50.1 (back in expansion).
  5. Services: Value‑added +5.4%; IT & software +11.1%; leasing & business services +10.3%.
  6. Consumption: Retail sales RMB 50.12 trillion (US$7.0 trillion), +3.7%; online retail +8.6% (physical goods 26.1% share); December +0.9%.
  7. Investment: Fixed asset investment ‑3.8%; manufacturing +0.6%; infrastructure ‑2.2%; property ‑17.2%.
  8. Trade: Goods trade RMB 45.47 trillion (US$6.36 trillion), +3.8%; exports +6.1%, imports +0.5%; private firms 57.3% share.
  9. Prices & jobs: CPI 0.0%; core CPI +0.7%; PPI ‑2.6%; urban unemployment 5.2% (Dec 5.1%).
  10. Income & population: Per‑capita disposable income RMB 43,377 (US$6,070), +5.0% real; population ‑3.39 million; urbanization 67.89%.

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