中国经济 数据观 组数据见证 中国经济韧性活力 初步核算,2025年前三季度 国内生产总值 1015036亿元 按不变价格计算，同比增长 5.2%0 分季度看 5 4% 54% 53% 5.2% 4.8% 4.7% 4.6% 二季度 三季度 四季度 二季度 三季度 2024年一季度 2025年一季度 分产业看 第一产业增加值58061亿元，同比增长 3.8%o 第二产业增加值364020亿元，增长４.9%o 第三产业增加值592955亿元，增长 5．4％o 2025年前三季度 我国货物贸易进出口 33.61万亿元 同比增长 4% 9 2025年前三季度 全国固定资产投资 (不含农户) 371535亿元 同比下降0.5% 高技术产业中,信息服务业,航空、航天器及 设备制造业，计算机及办公设备制造业投资 同比分别增长33.1%、20.6%、 7 10/2 O ルー、二季度分别增长 1.3%、 4.5% 到三季度增长 6% 我国进出口已连续 8个季度 实现同比增长 三个季度进出口规模均在 10万亿元以上，保持了历史较高水平 0 I 65 740 2025年前三季度 社会消费品零售总额 365877亿元 同比增长4. ...

Core Insights - The 138th China Import and Export Fair (Canton Fair) is being held from October 15 to November 4, with a record total of 74,600 exhibition booths and over 32,000 participating companies, marking a historical high and attracting significant international attention [1][3]. Group 1: Participation and Economic Indicators - This year's fair has surpassed 32,000 participating companies, with over 10,000 high-tech and specialized enterprises, showcasing the resilience and vitality of China's foreign trade [3]. - China's foreign trade report for the first three quarters indicates an export growth rate exceeding 7%, maintaining growth for eight consecutive quarters, reflecting a solid economic foundation [3]. Group 2: Innovation and Product Development - The fair features over 1 million new products developed in the past year, nearly 1.1 million products with independent intellectual property rights, and around 800,000 products making their debut, highlighting the ongoing R&D strength of Chinese enterprises [5]. - The event serves as a crucial window for understanding the dynamics of China's manufacturing development, showcasing a complete industrial chain and robust innovation capabilities [5]. Group 3: Global Trade and Market Integration - The Canton Fair exemplifies China's comprehensive industrial chain and mature industrial support capabilities, acting as a one-stop trade platform for global buyers [7]. - The fair facilitates efficient connections between emerging and traditional market demands, injecting more certainty into global trade [7]. Group 4: Future Directions and Trade Ecosystem - The fair focuses on "new," "intelligent," and "green" development directions, aligning with the ongoing R&D and upgrade efforts of Chinese foreign trade enterprises [9]. - The integration of online and offline models at the fair breaks spatial and temporal limitations, creating a perpetual trade ecosystem that enhances the quality and efficiency of China's foreign trade [9].

Economic Growth - China's economy achieved a substantial growth of 5.2% in the first three quarters of 2025, with nominal GDP reaching 10,150.36 billion RMB (approximately 1,416.82 billion USD), maintaining its position as the second-largest economy globally after the United States [1][3] - The net increase in GDP for the first three quarters amounted to 396.79 billion RMB, highlighting the significant absolute growth for an economy of this scale [3] Employment and Inflation - The average urban unemployment rate remained stable at 5.2%, indicating a generally steady employment situation [3] - The Consumer Price Index (CPI) saw a slight year-on-year decrease of 0.1% due to fluctuations in food and energy prices, while the core CPI, excluding these factors, rose by 0.6%, reflecting the effectiveness of policies aimed at boosting domestic demand and consumption [3] Foreign Trade and Currency Stability - China's foreign trade demonstrated strong adaptability, with import and export volumes reaching historical highs and showing a quarterly increase, underscoring the irreplaceable position of "Made in China" in global supply chains [4] - Foreign exchange reserves remained stable at over 3.3 trillion USD, with the RMB exchange rate maintaining a reasonable and balanced level, providing ample space for domestic macroeconomic policy implementation [4] High-Quality Development - The focus on high-quality development is evident, with significant advancements in innovation and technology, as China transitions from being the "world's factory" to a "global innovation hub" [6] - The proportion of value added from equipment manufacturing and high-tech manufacturing reached 35.9% and 16.7%, respectively, indicating a structural upgrade in the economy [6] Domestic Consumption - Final consumption expenditure contributed 53.5% to economic growth, becoming the main engine of growth, supported by targeted macroeconomic policies [9] - Policies such as the consumption upgrade program have stimulated demand for major consumer goods, including home appliances and automobiles [9] Future Outlook - The foundation for achieving the annual growth target remains solid, with the 5.2% growth in the first three quarters providing a strong basis [10] - Emerging industries such as artificial intelligence, green energy, and biomanufacturing are expected to create new growth points for the economy [10] - Despite challenges from external environments and internal structural issues, the long-term positive trend of the Chinese economy is expected to continue, contributing stability and positive energy to global economic growth [12]

Core Viewpoint - China's economy is expected to maintain a growth rate of over 5% in the first three quarters of the year, with a focus on steady growth and structural adjustments [1][3]. Economic Performance - The overall economic performance in the first three quarters is characterized by stable growth, supported by policies aimed at expanding domestic demand and promoting consumption [5]. - The consumption market has shown steady growth, with new consumption drivers continuing to strengthen [5]. Consumption and Market Dynamics - The implementation of a 300 billion yuan subsidy for trade-ins has had a significant impact, estimated to generate a 1:10 effect on consumption [5]. - There has been a rapid growth in service consumption, particularly in cultural tourism and performances [5]. Industrial Upgrading - Significant achievements in industrial upgrading are highlighted, with rapid growth in high-tech manufacturing sectors such as new energy vehicles, integrated circuits, artificial intelligence, and high-end equipment manufacturing [7]. - The support for innovation and bold attempts by businesses in their respective fields have contributed to enhancing overall productivity [9]. Export and Market Diversification - Despite a challenging external environment, foreign trade has performed well, showcasing the resilience and upgrading benefits of Chinese industries [11]. - There is a trend towards diversifying export markets, particularly optimizing export structures [11].

Core Viewpoint - The article emphasizes that despite facing complex external and internal challenges, China's economy has shown resilience and achieved a GDP growth of 5.2% in the first three quarters of 2025, indicating a stable and progressive economic performance [4][6][8]. Economic Performance - China's GDP for the first three quarters of 2025 reached 10,150.36 billion yuan, with a year-on-year growth of 5.2%, which is an acceleration of 0.2 and 0.4 percentage points compared to the previous year and the same period last year, respectively [5]. - The average urban unemployment rate remained stable at 5.2%, while the Consumer Price Index (CPI) slightly decreased by 0.1%, with the core CPI (excluding food and energy) rising by 0.6% [5][10]. - The total import and export volume reached a historical high, with a year-on-year growth of 6.0% in the third quarter, and foreign exchange reserves remained above 3.3 trillion USD [5][10]. High-Quality Development - The article highlights the ongoing efforts towards high-quality development, with significant advancements in new production capacities and economic structure optimization [6][18]. - The proportion of added value from equipment manufacturing and high-tech manufacturing reached 35.9% and 16.7%, respectively, indicating a shift towards more advanced industries [6]. - The share of non-fossil energy consumption in total energy consumption increased by approximately 1.7 percentage points year-on-year, reflecting progress in green and low-carbon transformation [6][18]. Economic Resilience - China's economy demonstrated strong resilience, achieving a 5.2% growth rate despite global economic uncertainties and trade protectionism [7][10]. - The article notes that this growth rate is among the highest compared to other major economies, showcasing China's role as a stable and reliable driver of global economic growth [7][10]. Policy Implementation - The implementation of proactive macroeconomic policies has played a crucial role in stabilizing the economy, with measures aimed at expanding domestic demand and enhancing market vitality [13][14]. - The contribution of final consumption expenditure to economic growth reached 53.5%, an increase of 9.0 percentage points compared to the previous year, highlighting the effectiveness of consumption-boosting policies [13][14]. New Quality Productivity - The development of new quality productivity has been emphasized as a key driver for high-quality growth, with significant investments in R&D and innovation leading to advancements in various sectors [16][17]. - The added value of high-tech manufacturing increased by 9.6%, with notable growth in industries such as integrated circuits and industrial robots [16][17]. Green Transformation - The article discusses the steady progress in green transformation, with significant increases in renewable energy production and the adoption of green technologies [18][23]. - The production of new energy products, such as electric vehicles and solar batteries, has seen substantial growth, contributing to a more sustainable economic model [18][23].

Core Insights - The core viewpoint emphasizes that despite external challenges, China's economy has demonstrated resilience and achieved a 5.2% growth rate, positioning it as a stable and reliable source of global economic growth [1][2] Economic Performance - China's economy has shown strong resilience and potential, achieving a 5.2% growth rate this year, which ranks among the top in major economies [1] - The growth reflects China's ability to adapt and respond to instability and uncertainty in the global environment [1] External Environment - The global economic landscape is characterized by insufficient growth momentum, rising protectionism, geopolitical conflicts, and international trade frictions, which have intensified adverse impacts on the economy [1][2] - Despite these challenges, China's economic structure remains robust, with a focus on stabilizing and advancing growth [2] Domestic Challenges - There are ongoing structural contradictions in certain domestic sectors, and many enterprises are facing operational difficulties [2] - The government aims to implement counter-cyclical adjustments and enhance domestic demand to stimulate market vitality and development expectations [2]

Core Viewpoint - The Chinese economy has made significant progress and transformative changes during the "14th Five-Year Plan" period, despite facing complex external challenges and domestic reform tasks [2][3]. Group 1 - The leadership of the Communist Party of China, centered around Xi Jinping, has played a crucial role in guiding the nation through difficulties and achieving historical accomplishments in economic and social development [2]. - The "15th Five-Year Plan" period is identified as a critical time for solidifying the foundation for socialist modernization and enhancing overall efforts [2]. - There is a strong emphasis on maintaining confidence and pursuing high-quality development to ensure effective qualitative improvements and reasonable quantitative growth in the economy [3].

Core Insights - The average economic growth rate during the first four years of the "14th Five-Year Plan" reached 5.5% [1] - The economy has successfully surpassed significant milestones of 110 trillion, 120 trillion, and 130 trillion yuan [1] - The advantages of a complete industrial system have become more prominent, with noticeable improvements in the quality and efficiency of development [1]

今年是"十四五"规划收官之年。5年间，以习近平同志为核心的党中央团结带领全党全国各族人民 勠力同心、踔厉奋发，从实现第一个百年奋斗目标到开启第二个百年奋斗目标新征程，从全面建成小康 社会到促进全体人民共同富裕，我国经济社会发展取得新的开创性进展、突破性变革、历史性成就。如 何理解"新的开创性进展、突破性变革、历史性成就"？ 新华社音视频部制作 【纠错】 【责任编辑:赵文涵】 你的关切我们来回应，这里有中国经济的权威声音、真实画像，敬请关注"中国经济圆桌会"。 ...

Core Viewpoint - The article emphasizes China's ability to maintain economic stability and growth amidst global uncertainties, attributing this to long-term planning, dynamic resource flow, and resilience in global comparisons [4][10]. Group 1: Long-term Planning - China has implemented 14 consecutive five-year plans since 1953, which have driven significant achievements in various sectors such as poverty alleviation and high-end manufacturing, showcasing the country's institutional planning strength [6]. Group 2: Resource Flow - The vitality of the economy is reflected in the movement of people, goods, capital, and information. Stable employment, smooth markets, and the integration of AI and 5G into the economy indicate that China's economic "bloodline" is active and confidence is rising [7]. Group 3: Global Resilience - Despite a global economic slowdown, China continues to achieve medium to high-speed growth, supported by a complete industrial system, a large market of 1.4 billion people, an expanding open economy, and effective institutional execution [8]. Group 4: Future Outlook - While challenges remain, the article asserts that greater certainty lies in China's hands. By continuing reforms, fostering innovation, and stabilizing expectations, the economy can navigate through turbulent times [9].