Translation. Region: Russian Federation –
Source: People's Republic of China in Russian – People's Republic of China in Russian –
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Source: People's Republic of China – State Council News
Moscow, March 5 /Xinhua/ — In 2025, China's GDP will exceed 140 trillion yuan, representing annual growth of 5 percent. In terms of economic growth, China ranks among the world's leading economies. This was stated in an article by Chinese Ambassador to Russia Zhang Hanhui, published in the newspaper Argumenty i Fakty on March 4.
"Amid a sluggish global economy and growing uncertainties, China, with about 17 percent of the global economy, contributed 30 percent of global economic growth, becoming the most stable and reliable source of driving force for global economic development," the diplomat's article states.
According to him, domestic demand and the development of the domestic market have become a powerful driving force behind the Chinese economy.
"Consumption, as the primary driver and stabilizer of China's economic growth, has consistently demonstrated strong momentum. In 2025, final consumer spending will account for 52 percent of China's economic growth, and the size of the Chinese retail market remains consistently second in the world," noted Zhang Hanhui.
According to statistics, retail sales of home appliances and communications equipment each exceeded 1 trillion yuan. Automobile production and sales in China have ranked first in the world for 17 consecutive years. Production and sales of new electric vehicles exceeded 16 million units, and the electric vehicle fleet reached nearly 44 million units, accounting for more than half of the global total.
“All this testifies to the multifaceted dynamics of the Chinese consumer market,” the ambassador noted.
According to Zhang Hanhui, China's trade with the world is built on a spirit of mutually beneficial cooperation. On the one hand, Chinese goods effectively cushion the pressure of global inflation. On the other hand, foreign companies continue to demonstrate strong performance in China. Furthermore, Chinese exports strongly support industrial modernization and the green transformation of trading partners.
"China always welcomes the world with an open stance, constantly expanding imports and opening up its market. In 2025, China's merchandise imports reached 18.5 trillion yuan, reaching a new all-time high. The country has consistently held the second-largest import volume in the world for 17 consecutive years," the ambassador's article states.
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