Question: Recently, some international media outlets and institutions have suggested that China’s high-speed growth model of the past decades is no longer sustainable, and that the Chinese economy may enter a prolonged period of lower growth or even stagnation. What is your comment?
Embassy Spokesperson: We believe the Chinese economy should be viewed from a comprehensive and objective perspective.
China’s economy has made a steady start in 2026. In the first two months, foreign trade returned to double-digit growth, demonstrating strong resilience. The Government Work Report sets a projected GDP growth target of 4.5–5% for 2026. While this may appear to signal a moderation in speed, it is in fact a policy choice to create room for structural adjustment, risk prevention and further reform. It highlights China’s firm resolve to shift from scale-driven expansion to quality-oriented development. Let me highlight three key points:
First, innovation is emerging as China’s new growth driver. By 2025, the number of valid invention patents in China had exceeded 5 million, and filings under the Patent Cooperation Treaty ranked first globally for six consecutive years. From the maiden flight of the “Jiutian” unmanned aerial vehicle to the new “China speed” demonstrated by the CR450 high-speed train, and the application of large models, innovation is moving faster from the laboratory to the factory floor, providing solid support for economic growth.
Second, China’s enormous market continues to unleash strong momentum. In 2025, final consumption contributed 52% of economic growth, and total retail sales of consumer goods exceeded 50 trillion yuan. In 2026, China will continue to build a robust domestic market, coordinate efforts to boost both consumption and investment, and promote the upgrading and expansion of service consumption in such areas as culture, tourism, sports, and health and elderly care. This will ensure that domestic demand continues to play a central role in supporting steady growth.
Third, China’s economy remains an important anchor of stability for global growth. In 2025, China’s trade with Belt and Road partner countries grew by 6.3%, while high-tech exports increased by 13.2%. In the face of rising global uncertainties, China is committed to advancing high-standard opening up and improving the business environment, making it an attractive destination for global investment.
Claims of “economic stagnation” represent a fundamental misreading of China’s development trajectory. Driven by innovation, supported by domestic demand, and advanced through openness and mutually beneficial cooperation, the Chinese economy is moving forward with solid momentum. It will continue to support global growth and the stability of international industrial and supply chains, and create more cooperation opportunities for businesses around the world.
