Projected Economic Growth of China for 2021-2025 Exceeds 35 Trillion Yuan According to Official Statements
In a press conference held in Beijing on July 9, 2025, Zheng Shanjie, head of the National Development and Reform Commission, presented China's key achievements in social and economic development during the 14th Five-Year Plan period (2021-2025). The event, organised by the State Council Information Office, was extensively covered by Xinhua, a Chinese news agency.
During the conference, Zheng Shanjie highlighted China's robust economic growth, which saw the country remain the world's largest engine of growth, contributing about 30% to global growth. The average GDP annual growth rate was around 5.5% from 2021 to 2024, outperforming other major economies despite some slowing.
China also established the world's most complete industrial system, covering 41 major industrial categories and rapidly upgrading to higher-end and strategic sectors. The country made substantial breakthroughs in fundamental research and core technologies such as life sciences, materials science, computer science, high-performance chips, operating systems, and artificial intelligence. These advancements helped reduce foreign dependence and position China as a global innovation leader with over 4 million invention patents.
The government's focus on high-quality development and market dynamism was evident in the significant tax and fee reductions totaling about 10.5 trillion yuan during this period. These reductions supported technological innovation, advanced manufacturing, private enterprises, and SMEs.
Consumption contributed more significantly to GDP growth compared to earlier plans. China solidified its position as the world's second-largest consumption market and the biggest goods trader, further strengthening its global economic influence and fostering a resilient domestic market.
Provincial advancements in new growth drivers were also noted. Henan developed clusters in ultra-hard materials and agricultural machinery, Anhui focused on electric vehicles and quantum tech, and Hainan expanded modern seed breeding and commercial space ventures.
China's efforts to open up and improve its business environment for foreign-funded enterprises were also evident. The country became an attractive destination for cross-border investment despite global protectionist challenges, reflecting open, cooperative, and mutually beneficial international trade ambitions.
In summary, under the 14th Five-Year Plan, China achieved sustained economic expansion, a comprehensive industrial upgrade, major technological self-reliance strides, enhanced consumption-driven growth, and increased openness, all contributing to its socio-economic development goals. The achievements presented were a result of China's efforts to achieve high-quality development during the 14th Five-Year Plan period. The press conference included a question and answer session with the media, providing further insights into the achievements presented.
- Zheng Shanjie's presentation also addressed China's progress in finance, stating that the country's financial sector saw rapid growth and innovation, enabling China to become a critical player in global finance.
- The advancements in industry, technology, and business have significantly improved China's standing in the global economic landscape, making it a hub for investment in various sectors, including finance.
