China's economy is able to maintain steady growth in the first quarter of 2025, said a spokesman for the National Bureau of Statistics (NBS) at a press conference in Beijing on Monday.
The positive outlook is built on a solid start to the year, according to Fu Linghui, the spokesman.
"The January-February period saw the continued effects of the China's macroeconomic policy, resulting in a steady economic performance and a positive development trend. Judging from the recent situation, despite a more complex and severe external environment characterized by increased unilateralism and protectionism, and diverging global monetary policies, which exacerbate the risk of volatility in international markets, and weak domestic demand, with some enterprises facing operational difficulties, China's long-term positive economic trend remains unchanged," Fu said.
"The country benefits from its vast market, comprehensive industrial system, and abundant human resources. There is also significant room for growth driven by upgrading demand, structural optimization, and a shift in growth drivers. China's economy is expected to maintain a generally steady and progressing development trend in the first quarter, as a package of policies already in place and new ones have continued to take effect," said Fu.
"The first two months of the year saw steady growth in production and supply, along with steady increases in consumption and investment, laying a solid foundation for the first quarter, with the growth rates of most major indicators faster than those of the previous year as a whole. On the consumption front, various regions and departments have introduced a combination of policies to promote consumption and benefit people's livelihoods, by means of, for example, expanding and intensifying the implementation of consumer goods trade-in programs, and innovating diverse consumption scenarios, which are expected to drive steady growth in consumption," said the spokesman.
"With the implementation of the macroeconomic policy, the economy is showing signs of recovery, with positive changes in the real estate and stock markets. Breakthroughs in cutting-edge technologies, such as domestic artificial intelligence large models and humanoid robots, have also boosted public confidence," said the spokesman.
China's economy able to maintain steady growth in Q1: official
