China’s economic momentum remains strong, with projections indicating that the country’s total economic increment during the 14th Five-Year Plan period (2021–2025) will exceed 35 trillion yuan ($4.89 trillion), according to Zheng Shanjie, head of the National Development and Reform Commission (NDRC).
Speaking at a press conference on Wednesday, Zheng highlighted China’s resilience in the face of global challenges such as the COVID-19 pandemic and intensifying trade tensions. He noted that the economy has maintained an average annual growth rate of 5.5 percent over the past four years an extraordinary feat for an economy of China’s size.
Zheng emphasized robust gains in innovation and private enterprise. From 2020 to 2024, the country’s research and development (R&D) expenditure surged by 1.2 trillion yuan, an increase of nearly 50 percent. Registered private enterprises reached 58 million by the end of May 2025, marking a 40 percent jump since 2020.
Improvements in public welfare were also underscored. Over 95 percent of the population is now covered by basic healthcare and pension systems, while investments in transportation infrastructure added more than 10,000 kilometers to China’s high-speed rail network, enhancing mobility and logistics across the country.
Environmental progress has also been central to China’s development strategy. Clean energy now contributes over one-third of national electricity consumption. Forest coverage has surpassed 25 percent, accounting for a quarter of global new greening since 2020. Additionally, key rivers like the Yangtze and Yellow Rivers now meet high water quality standards.
In terms of sustainability, China’s energy consumption per unit of GDP dropped by 11.6 percent from 2021 to 2024 equivalent to a reduction of 1.1 billion tonnes of carbon dioxide emissions.
With less than six months before the end of the 14th Five-Year Plan, Zheng stated that China has strengthened its strategic foundations in areas such as food security, energy, and manufacturing. Looking ahead, the country remains committed to high-quality, green, and inclusive development under the upcoming 15th Five-Year Plan.
