China’s government work report, unveiled during the annual session of the national legislature, has outlined a strategic roadmap for high-quality development, drawing significant attention from both domestic and international stakeholders. The report highlights China’s economic performance in 2024, key policy directions, and ambitious goals for 2025, reinforcing the country’s commitment to sustainable growth and structural reforms.
Economic Performance and Growth Targets
In 2024, China’s Gross Domestic Product (GDP) grew by 5 percent, reaching 134.9 trillion yuan (approximately 18.8 trillion U.S. dollars). This contributed to nearly 30 percent of global economic growth. Huang Lianghao, an official with the Research Office of the State Council, described these achievements as “hard-won and extraordinary,” noting that China effectively improved the quality of its economy while maintaining a reasonable growth range. A significant milestone was the 3.4-percent reduction in carbon emissions per unit of GDP, demonstrating the country’s commitment to green development.
As China enters the final year of its 14th Five-Year Plan (2021-2025), the government has set a growth target of around 5 percent for 2025. Experts believe this target is both ambitious and realistic, aligning with employment stabilization and long-term development objectives. According to Jin Li, vice president of the Southern University of Science and Technology, the target reflects the government’s strategic foresight in balancing progress with stability.
Strategic Reforms and Employment Goals
China is prioritizing structural reforms to sustain economic resilience. Last year, more than 20 million new business entities were established, indicating strong entrepreneurial activity. Yuan Yuyu, chairman of Medprin Regenerative Medical Technologies, emphasized that fostering collaboration between academia and industry will accelerate technological breakthroughs and enhance productivity.
The government aims to create over 12 million new urban jobs and maintain an urban unemployment rate of around 5.5 percent. Reforms in vocational training and education will help address structural labor mismatches, ensuring a skilled workforce for emerging industries.
People-Centered Policies
The government work report underscores China’s commitment to improving public welfare. Measures include increasing minimum basic old-age benefits for rural and non-working urban residents by 20 yuan and enhancing pension benefits for retirees. Additionally, 300 billion yuan will be allocated for ultra-long special treasury bonds to support consumer goods trade-in programs.
With healthcare becoming a growing priority, reforms in public hospitals will improve service efficiency, and medical innovation will be encouraged to lower healthcare costs. “The concerns of the public are at the core of the government’s policies,” noted Huang, reaffirming China’s people-centric development approach.
China’s work report sets a clear course for sustainable growth, economic resilience, and improved social welfare, reinforcing the nation’s commitment to high-quality development in 2025 and beyond.
