China’s newly released growth figures paint a picture of an economy that is meeting official targets while wrestling with deep structural challenges.
According to data published today by the National Bureau of Statistics, China’s GDP expanded by 5% in 2025, matching Beijing’s goal of ‘around 5%’. Yet the headline number masks a more uneven reality beneath the surface.
China’s growth slowed sharply in the final quarter, easing to 4.5%, the weakest pace since the country emerged from its post‑pandemic reopening phase. Still enviable growth figures by any country’s standard.
Analysts note that the year’s performance was propped up largely by a surge in exports, which delivered a record trade surplus despite ongoing U.S. tariffs and global protectionist pressures.
Domestic demand, however, remained subdued, with retail sales and investment both underperforming expectations.
Officials acknowledged the difficult backdrop, citing “strong supply and weak demand” as a persistent imbalance in the economy.
The property sector’s prolonged slump continues to weigh heavily on confidence, while demographic pressures intensified as China recorded its lowest birth rate on record and a fourth consecutive year of population decline.
Taken together, the figures may suggest that while China has succeeded in hitting its growth target, the underlying momentum remains fragile.