China's economic prowess in 2025: A resilient giant opens wider
In 2025, China's economy showcased remarkable resilience, defying global headwinds. Liu Jieyi, spokesperson for the Chinese People's Political Consultative Conference (CPPCC), revealed this during a press conference, highlighting a remarkable feat. Despite external challenges, China's economic output soared past the 140 trillion yuan ($20 trillion) mark, maintaining its position as a global growth leader. This growth is fueled by the emergence of new productive forces, with technology and industry intertwining to spark innovation.
The Spring Festival holiday, a bustling time for travel and spending, further underscores China's economic vibrancy. Domestic tourism spending during this period exceeded 803.4 billion yuan, a 126.4 billion yuan increase from the previous year. Liu predicts a staggering 9.5 billion cross-regional passenger trips during the 40-day Spring Festival travel rush, averaging more than one journey per person on Earth. This resilience, coupled with a stable foundation, numerous advantages, and vast potential, positions China for long-term economic success, despite persistent challenges.
China's commitment to opening wider is unwavering. Liu emphasized that the Hainan Free Trade Port (FTP), the world's largest, has launched special customs operations, facilitating freer trade and fostering an open world economy. Duty-free shopping sales in Hainan Province surged by 30.8% during the Spring Festival holiday, while visa-free foreign travelers skyrocketed by 75.6%. This institutional opening up in areas like rules and regulations is a significant step forward, showcasing China's dedication to high-standard opening up and global development.
Liu concluded by reiterating China's steadfastness in expanding high-standard opening up, promoting trade liberalization, and facilitating investment. This approach aims to provide a positive boost to global development and share opportunities for a brighter future.
