ECONOMY

Two Sessions: China’s GDP Target Unchanged as Deficit Projection Hits Record High

Published: Mar. 5, 2025 9:25 a.m. GMT+8

00:00

00:00/00:00

Listen to this article 1x

For China to hit its GDP growth target of around 5% in 2025, it will have to achieve “formidable” tasks that include spurring domestic demand, stabilizing the real estate sector and navigating external uncertainties, according to the annual government work report released Wednesday.

The growth goal, which has been set at the same level for a third year running, is on par with market expectations and last year’s recorded growth.

China Targets Stable Growth

“A target of around 5% is well aligned with our mid- and long-term development goals and underscores our resolve to meet difficulties head-on and strive hard to deliver,” Premier Li Qiang said in the report to the annual session of the country’s top legislature.

You've accessed an article available only to subscribers

Subscribe today for just $.99.

VIEW OPTIONS

Unlock exclusive discounts with a Caixin group subscription — ideal for teams and organizations.

Subscribe to both Caixin Global and The Wall Street Journal — for the price of one.

Share this article

Open WeChat and scan the QR code

DIGEST HUB

Digest Hub

Back

Explore the story in 30 seconds

China aims for a GDP growth target of around 5% by 2025, consistent with market expectations and the previous year's target.
Economic goals include consumer price index growth of 2%, more than 12 million new urban jobs, and a 5.5% surveyed urban unemployment rate.
Fiscal deficit-to-GDP ratio set at 4%, with increased special-purpose bond quota at 4.4 trillion yuan and ultra-long special treasury bond quota at 1.3 trillion yuan.

AI generated, for reference only

What Happened When