Chinese economy performs better than expected in major indicators this year: official

The Chinese economy has made steady progress despite pressures, with significant economic indicators performing better than expected, an official said on Saturday.

Speaking at the Annual Conference on China's Economy 2025-2026 hosted by the China Center for International Economic Exchanges in Beijing, Han Wenxiu, executive deputy director of the Office of the Central Committee for Financial and Economic Affairs, said 2025 marks an extraordinary year in Chinese modernization drive.

"This year, Chinese economy has made steady progress despite pressures in innovation-driven and high-quality development, showing strong resilience and vitality. Major economic indicators have performed better than expected," Han said.

Noting "many institutions forecast the annual economic growth rate will be around 5 percent," Han said, "China remains the greatest engine for global economic growth."

"China's employment has remained generally stable, while foreign trade has grown rapidly, and export diversification has produced prominent results," Han said.

"Accelerated progress has been made in modernizing the industrial system, with new quality productive forces developing steadily. China is currently among global leaders in the research and development and application of artificial intelligence, biomedicine, and robots," said the official.

"New strides have been made in reform and opening up. Thorough efforts have been made to develop a unified national market, and comprehensive measures have been taken to address rat race competition. Positive changes have been seen in supply, demand, and price trends in industries such as photovoltaics, and capital markets have seen active trading and stronger confidence among both domestic and foreign investors. Voluntary opening up has advanced in an orderly manner, presenting the rest of the world a safe, stable, confident, and inclusive China," Han said.

Chinese economy performs better than expected in major indicators this year: official

Chinese economy performs better than expected in major indicators this year: official

Chinese economy performs better than expected in major indicators this year: official

China's second homegrown cruise ship, the Adora Flora City, successfully floated out in Shanghai on Saturday after dock flooding, according to China State Shipbuilding Cooperation.

After three rounds of safety inspections, the cruise ship began its undocking procedures on Saturday.

After being floated, the vessel was shifted to a fore dock chamber to conduct an inclining test, a key step used to measure the ship's weight and center of gravity, which are critical for stability and passenger comfort.

The undocking process is expected to last seven days. During this period, the ship will also undergo lifeboat release tests and maneuvering trials inside the dock to verify the performance of its 18 large lifeboats and two rescue boats under both normal and emergency conditions.

The cruise ship is scheduled to officially leave the dock next Friday, after which it will enter the stage of system commissioning and complete interior construction. Sea trials are planned for late May.

The ship was built by Shanghai Waigaoqiao Shipbuilding Co., Ltd. under China State Shipbuilding Cooperation.

The delivery of the cruise ship is expected before the end of the year.

China's 2nd homegrown cruise ship floats out, about to undock