Despite the challenges, China emphasizes the strength of its economy and puts an ambitious growth goal

In light of the continuous focus on the part of some Western platforms on promoting the economic collapse in China, some people ask about the fact that, and does the Chinese economy remain dynamically and ready to grow in the long term, according to the China Daily.
The capabilities and flexibility of the Chinese economy are reflected in its ability to meet its goals, and to put an ambitious growth goal in 2025 by 5%, even in the face of global opposite winds.

Growth expectations in China

Data issued by the National Bureau of Statistics showed that the GDP of China will reach in 2024 a record of 134.91 trillion yuan (18.81 trillion US dollars), which represents an increase of 5 % on an annual basis.
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The truth of the collapse of the Chinese economy

About this, John Ross, a prominent colleague at the Chong Yang Financial Studies Institute at the Chinese University of the People, who was previously the director of the Economic and Commercial Policy of the London mayor: “Given the fact that the American economy grew by 2.8 % in 2024, the much fastest growth in China compared to the United States reveals the absurdity and nature of the narration that lacks many facts that say that China’s economy is in a major crisis and not indicators Uninterrupted retreat. “
The newspaper stated that China is facing some clear economic challenges, but this does not mean that there is a current work to avoid the worst and the advancement towards development.

Policies supportive of growth

Since last September, a set of policies supporting growth have been launched with the aim of addressing prominent challenges in the real estate market and local governments debt and thanks to these measures, the main economic indicators showed a great improvement in the fourth quarter.
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In 2024, economic growth in China will be remarkable, as all the main sectors showed a strong performance and the production of grain reached a record number of 706 million tons, while the added value of secondary industries reached 49.2 trillion yuan and 76.6 trillion yuan, respectively.

Stability of employment rates

The newspaper stated that maintaining the stability of employment and prices is a major indication of smooth economic work.
In 2024, the consumer price index increased by 0.2 % on an annual basis.
The National Bureau of Statistics said that the unemployment rate in the urban areas of their views decreased to 5.1 %, a decrease of 0.1 % from 2023.

Growth engines in China

The future of economic growth in China is largely dependent on technological innovation. In 2024, China rose to the eleventh position in the Global Innovation Index, according to the World Intellectual Property Organization.
For the second year in a row, China tops the list of the largest number of science and technology groups (26) in the list of the best 100 followed by the United States with 20 groups.

China spending

China’s total spending on research and development was 3.61 trillion yuan in 2024, an increase of 8.3% over the previous year.
The National Bureau of Statistics stated that this investment is within the position of China as the second largest country that is spent on research and development in the world, while the intensity of research and development ranked 12 among the major countries bypassing the average European Union countries.

Global confidence

Giant foreign companies such as “Tesla” and “BMW” have sought their presence in China.
A new report issued by the American Chamber of Commerce in southern China showed that China has a strong position in global investment, as it is about 58% of foreign companies, China, one of its most important investment priorities.