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China's economic resilience drives global growth
Last Updated: 2025-07-18 08:11 | Xinhua
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BEIJING, July 17 (Xinhua) -- In the face of a complex international landscape and mounting challenges, China achieved steady economic growth in the first half of 2025, boosting confidence in global growth potential.

According to data released by the National Bureau of Statistics (NBS) on Tuesday, China's gross domestic product (GDP) grew 5.3 percent year on year in the first half of 2025 and 5.2 percent year on year in the second quarter.

Analysts noted that by steadfastly advancing high-quality development and steadily expanding high-level opening-up, the Chinese economy has demonstrated strong resilience, providing a reliable driving force for global economic growth.

STRONG RESILIENCE

Since the beginning of 2025, the international economic and trade order has experienced severe shocks and increasing uncertainties. In the face of mounting pressure, China's economy has maintained a steady and positive momentum, presenting a high-quality performance.

"Resilience" has become a key word used by overseas media when reporting on the Chinese economy, with many noting that China's economic data in the first half of the year exceeded market expectations and that the country stays on course to meet its annual growth target of around 5 percent.

China's GDP growth, despite the impact of U.S. tariff policy, signals strong resilience, highlighting China's adaptive policies and manufacturing depth, said Philippe Monnier, former executive director of the Greater Geneva Berne area (GGBa), the investment promotion agency for Western Switzerland.

The encouraging growth of the Chinese economy is mainly attributed to the strong performance in trade, industrial production and retail sales, said Lynn Song, chief economist for Greater China at ING, a Dutch bank. He added that the solid results in the first half should keep China on track to achieve its full-year growth target.

Thanks to efforts to strengthen economic and trade ties globally, China's foreign trade sector delivered a strong performance, significantly contributing to overall economic growth. In the first half of the year, China's total goods trade hit 21.79 trillion yuan (3.04 trillion U.S. dollars), reaching a record high for the same period.

During this time, China's imports and exports with more than 190 countries and regions registered growth, with 61 trading partners posting trade volumes exceeding 50 billion yuan (6.96 billion dollars).

In addition to increased trade with traditional markets such as the European Union, Japan and Britain, emerging markets provided additional momentum. Notably, China's trade with Africa and Central Asia rose by 14.4 percent and 13.8 percent year on year, respectively.

EFFECTIVE POLICY

Facing an increasingly complex and challenging external environment, China has effectively implemented more proactive and effective macroeconomic policies, further strengthened the domestic economic circulation, continued to advance high-level opening-up and steadily pushed forward economic transformation and high-quality development.

In the first half of 2025, domestic demand contributed 68.8 percent to GDP growth, serving as the main engine of economic expansion, according to the NBS.

China's emphasis on household subsidies, fiscal support and credit access for small businesses has helped stabilize internal demand while shielding the economy from external shocks, making it more resilient to trade tensions and global slowdowns, Rwandan economic analyst Teddy Kaberuka told Xinhua.

Japan's Jiji Press noted that the Chinese government's implementation of a moderately accommodative monetary policy has yielded tangible results in supporting the real economy, and measures introduced to boost consumption also played a positive role in driving economic growth.

During the first half of 2025, China saw rapid growth in high-tech sectors such as scientific innovation and green development. Value-added industrial output in high-tech manufacturing rose by 9.5 percent, 3.1 percentage points higher than that of overall industrial output during the same period.

With strategic support for sectors such as artificial intelligence, semiconductors, electric vehicles and clean energy, China is transitioning toward a more sustainable, consumption-driven growth model that benefits global supply chains and investment flows, said Monnier.

Karim Adel, head of the Cairo-based Al Adl Center for Economic and Strategic Studies, noted that in the challenging year of 2025, China has introduced a series of proactive policies not only to advance its own growth objectives but also to provide sustained momentum for the global economy.

BENEFIT THE WORLD

In the face of the challenging international landscape, the Chinese economy has demonstrated strong resilience and vast development potential. Driven by innovation, it is advancing high-quality development, contributing to global economic growth and sharing development opportunities with the world.

Nicole Hoffmeister-Kraut, minister of economic affairs of the German state of Baden-Wurttemberg, who led a delegation to visit China recently, told Xinhua that she was deeply impressed by China's achievement in science and technology, adding that China is an exciting market in intelligent transportation, robot industry and other emerging areas.

In recent years, Germany and China have been deepening cooperation in cutting-edge areas, said Bernd Einmeier, president of the German-Chinese Association for Economy, Education, and Culture.

German enterprises remain enthusiastic about investing in China, while a growing number of Chinese companies view Germany as a strategic gateway for expanding into the European market, said Einmeier, noting that this two-way interaction serves as a stabilizing force for global industrial and supply chains.

Munetsi Madakufamba, executive director of the Southern African Research and Documentation Center, praised China's zero-tariff measures covering all taxable products for 53 African countries, saying it represents a significant development that has the potential to enhance China-Africa trade relations.

The positive performance of the Chinese economy can help Africa unlock its vast economic potential and contribute to its development aspirations, he added.

In an era marked by uncertainty, China's stability and development represent confidence and opportunity, said Ng Chin Long, chairman of the Malaysia Friends of Silk Road Club.


(Editor: wangsu )

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China's economic resilience drives global growth
Source:Xinhua | 2025-07-18 08:11
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