China’s economy is projected to grow by over 35 trillion yuan ($4.89 trillion) during its 14th Five-Year Plan (2021–2025), according to Zheng Shanjie, head of the National Development and Reform Commission. Despite challenges like the pandemic and trade tensions, China achieved an average annual growth rate of 5.5% in the first four years—remarkable for an economy of its size.
Zheng highlighted key progress: a nearly 50% increase in R&D spending, over 58 million registered private enterprises (up 40% from 2020), and significant improvements in public services, healthcare, education, and infrastructure. Over 95% of the population is now covered by basic medical and pension systems, and high-speed rail has expanded by more than 10,000 km.
Environmental achievements were also emphasized, including a forest coverage rate surpassing 25%, clean energy making up over a third of electricity use, and improved water quality in major rivers. Energy use per unit of GDP fell by 11.6%, cutting CO₂ emissions by the equivalent of half the EU’s total in 2024.
Zheng said China is now on a stronger foundation, with robust innovation, strategic self-reliance, and the world’s largest clean energy system. As the 14th Plan nears completion, officials are confident about the upcoming 15th Plan.
Yuan Da, NDRC secretary-general, added that domestic demand remains the core driver of China’s growth. From 2021 to 2024, domestic demand contributed 86.4% to overall growth, with consumption alone accounting for 56.2%—up 8.6 points from the previous plan period.
Credit : CGTN
You can listen to the programs organized by MI Radio on Google Podcast, Apple Podcast and Spotify.
You can download MI Radio application on Google Play Store and Apple App Store.
