Beijing (TDI): China’s economy has maintained strong growing momentum in the first two months of 2025, with industrial production, fixed asset investment and retail sales all growing at a faster pace than a year earlier, official data released on Monday revealed.
In January and February, the value-added output of major industrial enterprises above the designated size grew by 5.9% year-on-year, 0.1 percentage points higher than the full-year growth rate last year, said the National Bureau of Statistics (NBS).
During the first two months of the current year, national retail sales reached 8.37 trillion yuan ($1.16 trillion), up by 4.0% year-on-year, 0.5 percent higher than a year earlier.
During the period, China’s online retail sales hit 2.28 trillion yuan, up by 7.3% year-on-year.
Fixed assets investment in the first two months hit 5.26 trillion yuan, increasing 4.1% than a year earlier, or 0.9 percentage points higher than the full-year growth rate in 2024, according to the NBS.
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“A combination of existing and new policies has continued to yield results, leading to rapid development in industrial and service sectors, a marked rise in consumption and investment, stable employment, as well as thriving new quality productive forces. China’s economy got off to a steady start with new and positive development momentum,” Fu Linghui, a NBS spokesperson, said at a media conference on Monday.
China’s urban surveyed unemployment rate came in at 5.3% in the first two months of the ongoing year, which has remained stable.
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During the just-concluded two sessions, China set a GDP growth target of around 5% for its economy in 2025.
This reflects policymakers’ confidence in sustaining stable growth in the world’s second-largest economy despite facing challenges like weak domestic demand and external volatilities.
