By People’s Daily
China’s gross domestic product (GDP) grew 5.3 percent year on year in the first half of 2025, an increase of 0.3 percentage points compared to both the same period in 2024 and the entirety of 2024, according to data from the Chinese National Bureau of Statistics.
International observers note China’s resilience in navigating external pressures while sustaining stable economic momentum. They emphasize the country’s progress in high-quality development and its growing contribution to global economy stability.
“Amid a complex and volatile international environment, particularly marked by rapid shifts and intensified external pressures since the second quarter, China’s economy has demonstrated strong resilience and internal dynamism,” said Mario Estrela, president of Brazil-China Business and Cultural Development Cooperation Association.
He emphasized China’s consistent progress in technological innovation and green transition, noting that the country’s super-large market continues to unleash potential, generating substantial opportunities for global economic growth.
Prominent international financial institutions, including Citibank, UBS, Goldman Sachs, and JPMorgan Chase, have recently raised their growth forecasts for the Chinese economy in 2025. They believe that China’s development momentum will continue to strengthen, with positive trends expected to continue into the second half of the year.
“China’s steady growth stems from its strategy of developing new quality productive forces tailored to regional strengths, said Mohammed Sadiq, a researcher at the Center for Research and Knowledge Interommunication in Saudi Arabia. “This accelerates new industries, technologies, and business models – advancing China’s high-quality development while offering valuable insights forGlobal South countries.”
In the first half of this year, Chinese domestic demand rebounded, with upgraded consumption categories performing well. China’s retail sales of consumer goods, a major indicator of the country’s consumption strength, expanded by 5 percent year on year. Industrial production exhibited accelerated growth, propelled significantly by robust output in equipment manufacturing and high-tech manufacturing. The added value of China’s high-tech manufacturing rose by 9.5 percent.
“China has made remarkable progress in the digital economy, smart manufacturing, and green transformation. In areas like artificial intelligence, autonomous driving, and humanoid robotics, China stands as a global pioneer,” said Eddy Sanchez Iglesias, director of the Foundation of Marxist Research in Spain.
He noted China’s commitment to bolstering technological innovation, promoting talent development, and strengthening collaboration between academia and industry. This systemic approach facilitates a structural transition from factor-driven to innovation-driven growth, fostering a favorable ecosystem for high-quality development and offering new paths for global digital transformation, Iglesias said.
According to the Global Innovation Index 2024 released by the World Intellectual Property Organization, China moved up to 11th place globally in the ranking of the world’s most innovative economies, making it one of the fastest risers over the past decade.
At the same time, China continues to uphold true multilateralism, promote universally beneficial and inclusive economic globalization, actively participate in global economic governance, and strive to build an open world economy.
“While pursuing its own high-quality development, China consistently seeks to share opportunities with other Global South countries,” said Paul Frimpong, executive director and senior research fellow of the Africa-China Center for Policy and Advisory, a Ghana-based think tank.
He noted that China has granted zero-tariff treatment to all least developed countries with which it has diplomatic relations, including 33 African nations, on 100 percent of their products. In addition, the country is expanding high-level opening up through international cooperation platforms such as the China International Import Expo, the China International Supply Chain Expo, and the China-Africa Economic and Trade Expo, injecting new impetus to global economic cooperation and trade.
“In the first five months of this year, over 24,000 new foreign-invested enterprises were established on the Chinese mainland, representing year-on-year growth of more than 10 percent. This shows that China remains an ideal, safe, and promising destination for foreign investment,” said Iglesias.
He added that more and more Spanish companies, especially those in high-tech, green energy, and agri-food sectors, are seeking deeper engagement with the Chinese market as the country advances high-level opening up.
This year marked the third anniversary of the implementation of the Regional Comprehensive Economic Partnership. In May, negotiations on the Version 3.0 China-ASEAN Free Trade Area were formally concluded.
“China is continuously strengthening its economic and trade relations with both regional and global partners,” said Tang Zhimin, director of China ASEAN Studies at the Bangkok-based Panyapiwat Institute of Management.
He noted that backed by solid fundamentals, strong resilience, and robust momentum, China’s commitment to high-level opening up is yielding tangible results: In the first half of 2025, China’s trade with ASEAN grew by 9.6 percent, while trade with Belt and Road partner countries rose by 4.7 percent. Trade with the EU, Japan, and South Korea also registered growth. China continues to serve as a stabilizer in global trade, Tang added.
