Xi Jinping Affirms China Will Achieve 5% GDP Growth

Looking ahead to 2025, Chinese President Xi Jinping has announced that Beijing will maintain its stimulus measures and emphasized the need for more proactive policies.

Speaking to the nation’s top political advisory body, Xi stressed the importance of preparing for potential challenges, including the possibility of increased tariffs from the United States under the incoming administration of Republican President Donald Trump.

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On Tuesday, Xi reaffirmed that China is on track to achieve its 5% GDP growth target for 2024, describing the world’s second-largest economy as moving toward “stability.” While final growth figures for 2024 won’t be released until late January, Xi’s remarks aim to quell market uncertainty regarding the country’s macroeconomic outlook.

Chinese Economic Slowdown

This uncertainty has lingered over recent months as China faced sluggish domestic consumption and a trade crisis impacting both exports and imports. In response, the government rolled out new stimulus measures in late summer to revive internal demand and stabilize trade flows. Analysts currently estimate that China’s economy will close 2024 with a growth rate of approximately 4.8%.

The official growth target for 2025 will not be set until March during the annual legislative sessions, but Chinese officials anticipate the rate will again hover around 5%, exceeding most analyst forecasts. Xi’s commitment to sustained economic support underscores Beijing’s determination to counter external and domestic pressures while fostering long-term growth and stability.

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ABOUT THE AUTHOR See More
Ignacio Teson
Ignacio Teson
Economist and Financial Analyst
Ignacio Teson is an Economist and Financial Analyst. He has more than 7 years of experience in emerging markets. He worked as an analyst and market operator at brokerage firms in Argentina and Spain.
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