Xinhua Commentary: Chinese economy forges ahead with resilient growth

BEIJING, July 16 (Xinhua) — Despite growing global uncertainties, the Chinese economy continues to chart a course of resilient, high-quality development, posting a robust 5.2 percent year-on-year expansion in the second quarter of 2025.

The world’s second-largest economy achieved 5.3 percent growth in the first half of the year, firmly positioning itself to meet its annual GDP target of around 5 percent. This steady performance underscores the effectiveness of China’s proactive macroeconomic policies, which have successfully maintained economic stability despite mounting external pressures. The outperformance of key economic indicators vividly illustrates the economy’s inherent strength and dynamic potential.

These growth figures serve as a powerful rebuttal to persistent critics of China’s economic model, while reaffirming the nation’s enduring role as a stabilizing force and growth engine for the global economy.

The foundation of China’s economic resilience lies in its thriving consumption sector, which contributed 52 percent to GDP growth in the first half of the year, according to official data. Strategic initiatives like large-scale equipment renewal and consumer goods trade-in programs have effectively stimulated domestic demand, creating sustainable growth momentum.

Equally impressive is the rapid development of new growth drivers. Across China’s diverse regions, development of new quality productive forces suited to the local conditions and the integration of technological with industrial innovation are accelerating the emergence of cutting-edge industries, technologies, and business models. This structural transformation, cultivated through years of quality-focused development, has significantly enhanced the economy’s sustainable development capacity.

China’s commitment to openness remains unwavering despite rising protectionism globally. The country continues to advance high-level opening-up and mutually beneficial international cooperation. This is evidenced by the establishment of 24,018 new foreign-invested enterprises, up 10.4 percent year-on-year, from January to May. It is also highlighted by ExxonMobil’s recent launch of its landmark chemical complex in southern China — the nation’s first wholly U.S.-owned major petrochemical project.

Substantial reforms are further strengthening the country’s economic framework. The implementation of groundbreaking legislation supporting private enterprises ensures fair market access and competition, while this year’s streamlined negative list has significantly reduced market barriers, unleashing new waves of economic vitality across all sectors.

With its pro-growth policies and structural reforms continuing to bear fruit, the Chinese economy — powered by consumption, innovation, reform and opening-up — is well-positioned to maintain its growth trajectory through the remainder of 2025.