Leading economists are pushing back against narratives they claim underestimate China’s economic resilience, as the country reaffirms its 2025 GDP growth target of around 5%. The debate comes amid global scrutiny of China’s economic governance and its capacity to sustain momentum in a complex geopolitical landscape.
Growth Amid Skepticism
Li Cheng, founding director of the Center on Contemporary China and the World at the University of Hong Kong, argued during CGTN’s Talking China debate that China’s 5% GDP growth in 2024 defied gloomy expectations. \"This performance outstrips other major economies like the U.S., Japan, and Germany,\" Li said, adding that analysts historically tend to \"underestimate rather than overestimate\" China’s growth trajectory.
Sustaining Global Contributions
Wang Wen, dean of Renmin University’s Chongyang Institute, emphasized that achieving the 2025 target would cement China’s role as a primary engine for global growth. \"A 5% expansion could contribute 35-40% of worldwide economic growth,\" he noted, highlighting China’s third consecutive year targeting this rate despite mounting external pressures.
Navigating Challenges
Wang acknowledged hurdles such as U.S.-imposed tariffs and trade barriers but pointed to aggressive fiscal measures—including raising the deficit-to-GDP ratio to 4%—as evidence of Beijing’s resolve. Both experts identified tech innovation and domestic consumption as critical to long-term stability, with Wang stating these sectors \"will anchor China’s sustainable development.\"
