The Organization for Economic Cooperation and Development (OECD) has raised its forecast for China's economic growth in 2025 from 4.9 percent to 5 percent in its latest Economic Outlook report.
This marks the third time the OECD has upgraded its projection for China this year, reflecting growing confidence in the country's economic resilience.
The OECD noted that China's fiscal policy has been expansionary, with a number of measures introduced to support incomes and boost consumption, including a trade-in program for cars and household appliances.
This adjustment underscores the OECD's recognition of China as a key stabilizer of global growth.
Tamas Hajba, head of the OECD Beijing Office, said China's strengthened efforts to advance large-scale equipment renewal and consumer goods trade-ins have effectively boosted consumption and led to good performance in exports and export-oriented manufacturing industries.
He added that the Chinese economy has shown resilience and undergone transformation in 2025, despite external uncertainties in the global economic landscape.
"I would definitely start with 'resilience.' Regardless of the external environment, the tariffs and the pressure in foreign trade, China's economy performed well. The second keyword that I would use is 'transformation,' as China is in a transformation when it comes to the green and digital transformation. But China is also transforming its industry and restructuring its industry," said Hajba.
OECD raises 2025 forecast for China's economic growth to 5 pct
OECD raises 2025 forecast for China's economic growth to 5 pct
OECD raises 2025 forecast for China's economic growth to 5 pct
The successful election of the eighth-term Legislative Council (LegCo) of China's Hong Kong Special Administrative Region (HKSAR) marked an important achievement in further consolidating and developing high-quality democracy in the region, a spokesperson for the Hong Kong and Macao Affairs Office of the State Council said on Monday.
The spokesperson said that the election was successfully held on Sunday in a safe, orderly and smooth manner, adding that voter turnout in the Election Committee subsectors, functional constituencies, and geographical constituencies all recorded significant increases from the previous election, fully reflecting public sentiment in Hong Kong.
The spokesperson noted that as the election entered the campaigning stage, a sudden fire incident in Tai Po inflicted serious trauma on Hong Kong. Thanks to the concerted efforts of the HKSAR government, various sectors of society and the broad electorate, the election was carried out with complete success.
It fully demonstrated Hong Kong society's unity, resilience, and determination to overcome difficulties, and highlighted the advancement and strengths of the new electoral system under the full implementation of the principle of "patriots administering Hong Kong," the spokesperson added.
The spokesperson said the newly elected members of the Legislative Council are all patriots who love the country and Hong Kong, and are capable, committed and dedicated to serving the community. They have won broad recognition and support from voters.
The spokesperson added that it is hoped and believed that the new-term legislators will fully, faithfully and unswervingly implement the "one country, two systems" policy, always uphold national sovereignty, security and development interests as the top priority, and promote Hong Kong's better integration into and contribution to the country's overall development.
Successful election of HKSAR's 8th-term LegCo of milestone significance: State Council spokesperson
