EconoScope | China's Q3 economic report signals resilience and vitality

China's economy expanded by 5.2% year-on-year in the first three quarters of 2025, according to data released Monday by the National Bureau of Statistics. The figure marks an increase of 0.2 percentage points from last year's full-year growth and 0.4 percentage points higher than the same period in 2024, reflecting continued resilience and vitality in the world's second-largest economy.

Luo Zhiheng, chief economist and dean of the Research Institute at Yuekai Securities, told China News Network that amid unreasonable suppression of China and rising deglobalization, the 5.2% growth rate fully reflects the resilience of the Chinese economy. He attributed this resilience to China's vast market, complete industrial chains, competitive products, and institutional strengths.

Foreign trade demonstrates resilience

Despite sluggish global demand and rising protectionism, China's foreign trade has defied the odds, posting steady gains quarter by quarter.

According to the General Administration of Customs, China's total imports and exports rose 8% year-on-year in September, marking the strongest monthly growth so far in 2025. Exports climbed 8.3%, surpassing forecasts by Reuters and Bloomberg. The surge was fueled by robust demand for the "new trio", including electric vehicles, lithium-ion batteries, and photovoltaic products, all of which posted double-digit export gains.

Market diversification efforts also paid off, as trade with Belt and Road partner countries grew 6.2%, 2.2 percentage points higher than China's overall growth in imports and exports, effectively offsetting volatility in traditional markets.

On Oct. 20, 2025, a worker works on a production line at a factory in Lianyungang, Jiangsu Province. (Photo provided to China News Network)

New quality productive forces powering growth

China's growth momentum is increasingly driven by the rise of new quality productive forces. Data from NBS show that in the first three quarters, the value added of high-tech manufacturing industries above a designated size grew 9.6% year-on-year. Production of industrial robots, service robots, and high-speed trains increased by 29.8%, 16.3%, and 8.6%, respectively.

Emerging technologies, especially artificial intelligence, are accelerating their transformation into real productive forces, upgrading industries, and expanding space for high-quality growth.

Targeted macro policies boost demand

Behind China's stable growth are targeted and effective macroeconomic policies. This year, the government allocated 300 billion yuan (about 42.14 billion) in ultra-long-term special treasury bonds to support large-scale trade-in programs for consumer goods, helping boost domestic demand.

NBS data shows that in the first three quarters, final consumption expenditure contributed 53.5% to GDP growth, 9 percentage points higher than the previous year, reinforcing its role as the primary growth engine.

Although global economic recovery remains uncertain, China's steady performance, characterized by both quantitative expansion and qualitative improvement, demonstrates its robust risk resilience and vast development potential.