China Confident in Maintaining Rapid Economic Growth Despite External Shocks

Strategic Insights -

Chinese Premier Li Qiang expressed confidence in and capability of maintaining rapid economic growth, citing the country's sustained momentum despite heightened external shocks. China's GDP grew by 5.4 percent in the first quarter of 2025, with key economic indicators improving in the second quarter. Li emphasized the importance of sustained progress toward long-term goals, with China striving to develop into a high-income country driven by consumption upgrades and innovation breakthroughs.

Key Takeaways:

  • China's economy has consistently maintained a good momentum despite changing international environments, with GDP growth of 5.4 percent in the first quarter of 2025.
  • Key economic indicators continued to improve in the second quarter, with international institutions raising expectations for China's economic growth.
  • China is moving toward becoming a high-income country driven by strong demand for consumption upgrades in the world's second-largest consumer and import market.
  • China is aiming to develop into a super-sized consumption powerhouse on the solid foundation of a manufacturing powerhouse.
  • Sustained breakthroughs and advances in innovation will inject fresh vitality into global development and help overcome sluggish economic growth worldwide.
  • World Economic Forum President Borge Brende shared an optimistic outlook on China's economic prospects, highlighting diversified economic structure, services and digital trade growth, and advancements in technologies such as artificial intelligence and robotics.
  • Former British Prime Minister Tony Blair emphasized the importance of deepening engagement with China, particularly in people-to-people exchanges and government and business cooperation, as China continues to grow stronger in the coming decades.

Statistics:

  • China's GDP growth rate in the first quarter of 2025: 5.4 percent.
  • International institutions' expectations for China's economic growth: raised.
  • China's ranking as the world's second-largest consumer and import market: affirmed.
  • Number of leading figures attending the 16th Annual Meeting of the New Champions (Summer Davos): over 1,700.
  • Number of countries and regions represented at the event: more than 90.
  • Thematic focus of the 16th Annual Meeting of the New Champions: Entrepreneurship for a New Era.

Sources:

  • "China Confident in Maintaining Rapid Economic Growth Despite External Shocks" (2025, People's Republic of China -- State Council News).
  • World Economic Forum President Borge Brende (2025, New Champions Summer Davos, addressing the opening of the event).
  • Former British Prime Minister Tony Blair (2025, New Champions Summer Davos, addressing the event).