China unveils 2025 economic road map, target 5% growth

The Government of China has on March 5, 2025, inaugurated her 2025 economic Roadmap.

The road map, is centred on reinforcing five per cent Gross Domestic Product (GDP) investment, innovation and growth.

According to the News Agency of Nigeria (NAN), it is strategic aims to boost it’s economic growth through consumption, innovation, and policy reforms.

China’s Prime Minister, Li Qiang, disclosed this during the virtual presentation of China’s government work report at the 14th National People’s Congress (NPC) in Beijing.

Premier Qiang added that, the roadmap focused on fiscal expansion, technological innovation, and foreign investment to drive sustainable economic growth despite global uncertainties.

He said, “A key feature of China’s 2025 economic strategy is an expanded fiscal policy with the deficit-to-GDP ratio set at four per cent, marking a notable increase from the previous year.

“To support economic stimulus, the Chinese government plans to issue 1.3 trillion yuan in ultra-long special treasury bonds, up by 300 billion yuan from last year, along with 4.4 trillion yuan in local government special-purpose bonds.

“Such represents a 500 billion yuan increase over 2024 levels; this fiscal expansion is designed to boost domestic consumption.

“Of the ultra-long special treasury bonds, 300 billion yuan will be allocated to consumer goods trade-in programmes.”

However, Tian Xuan, Deputy to the 14th NPC and Associate Dean at PBC School of Finance, Tsinghua University, explained the significance of the initiative, saying expanding domestic demand is a priority among ten key tasks outlined in the report.

According to Xuan, the dedicated 300 billion yuan for trade-in programmes will stimulate consumption, drive transformation and upgrade consumption patterns.

Chan Chun-ying, Hong Kong’s Deputy to the NPC and Advisor at Bank of China Hong Kong Ltd, expressed confidence in the economic target.

He stated that, China had consistently sustained medium-to-high-speed economic growth, adding that, China’s ability to sustain a 5% growth rate has inspired confidence and demonstrated resilience.

“China is prioritising technological advancements in bio manufacturing, quantum-computing, embodied AI and 6G.

“The AI Plus initiative aims to integrate digital technologies with manufacturing strengths, supporting extensive application of large-scale AI models, development of next-generation intelligent terminals and smart manufacturing equipment.

“The emergence of deep-seek has demonstrated that we can achieve global AI capabilities, using cost-effective chips and faster processing speeds.” Chun-ying added.

Erik Solheim, former UN Under-Secretary-General and former Executive-Director of the UN Environment Programme, described the roadmap as China’s commitment to stabilising foreign trade and advancing Belt and Road cooperation.

He said “China remains a significant force in the world economy with an expected economic growth of five per cent for 2025, China will continue to be the biggest source of global economic growth.

“Stability and innovation are key themes of this year’s two sessions; China is at the forefront of innovation, particularly in the two most important sectors, such as economy and environment.”

Highlights of the event includes keynote remarks from Patrick Nijs, co-founder of the EU-China Joint Innovation Centre, and Bernardo Mendia, Board Advisor at the EU Young Entrepreneurs Association.

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