经济运行稳中有进 改革提速固本强基——2025年终经济观察

Core Insights - China's economy is expected to achieve a growth target of around 5% in 2025, demonstrating resilience amid global uncertainties and domestic challenges [3][4] - The shift towards new economic drivers and quality improvements is a significant trend, with strong performance in high-tech and equipment manufacturing sectors [5][6] Economic Performance - In the first three quarters of 2025, the value added of major equipment manufacturing and high-tech manufacturing industries grew by 9.7% and 9.6% respectively, outpacing overall industrial growth [5] - Exports showed a robust growth rate of 6.2% from January to October, indicating strong international competitiveness in sectors like new energy and high-end equipment [5][6] Consumer Trends - Consumer preferences are shifting towards high-quality, smart appliances, with over 50% of smart home appliance sales in major retail channels [6] - Final consumption expenditure contributed 53.5% to economic growth in the first three quarters, reflecting a significant increase from the previous year [6] Policy and Future Outlook - The Chinese government is expected to implement more proactive fiscal and monetary policies to support economic recovery and growth in 2026 [8] - The upcoming "15th Five-Year Plan" is anticipated to create new growth opportunities, with a focus on structural reforms and enhancing market vitality [8][7]