China targets 5% GDP growth in 2025: Govt work report

发布日期：2025-03-07 作者：Fibre2Fashion News Desk (DS) 点击：

INSIGHTS

China aims at achieving a 5-per cent economic growth rate this year, a government work report submitted to the national legislature said.
The country's economic growth rate was 5 per cent last year.
Other key development goals outlined for this year in the report include a surveyed urban unemployment rate of around 5.5 per cent, over 12 million new urban jobs and a close to 2-per cent CPI rise.

China aims at achieving a 5-per cent economic growth rate this year, according to a government work report submitted to the national legislature for deliberation.

The country’s economic growth rate was 5 per cent last year.

Other key development goals outlined for this year in the report include a surveyed urban unemployment rate of around 5.5 per cent, over 12 million new urban jobs and a close to 2-per cent rise in consumer price index (CPI).

This year marks the final year of China's 14th Five-Year Plan (2021-2025) period.

"We will take a people-centered approach and place a stronger economic policy focus on improving living standards and boosting consumer spending," state-controlled media outlets cited the report as saying.

Domestic demand will be made the main engine and anchor of economic growth, the report said. Ultra-long special treasury bonds totaling 300 billion yuan will be issued to support consumer goods trade-in programmes.

New quality productive forces will be nurtured; emerging and future industries will be cultivated; upgrading of traditional industries will be accelerated; and digital technologies will be combined with manufacturing and market strengths, according to the report.

The gross domestic product growth target for 2025 is in line with China's conditions and current development trends, and will require consistently strenuous efforts, Shen Danyang, head of the report’s drafting team told a press conference in Beijing.

"We have comprehensively considered both domestic and external conditions and various factors, while taking into account the economy's need and possibility to achieve the goal," Shen added.

Fibre2Fashion News Desk (DS)