(Yicai) Jan. 19 -- China’s economy expanded 5 percent last year, achieving the country’s annual growth target.

Gross domestic product rose to a record CNY140.2 trillion (USD20.1 trillion) in 2025, according to data released by the National Bureau of Statistics today.

The economy grew 4.5 percent in the fourth quarter from a year earlier, 4.8 percent in the third quarter, 5.2 percent in the second quarter, and 5.4 percent in the first quarter. The government set an annual growth target of “around 5 percent” earlier in the year.

“Stability” characterized the economy last year, said NBS Director Kang Yi. Despite external turbulence and mounting domestic challenges, proactive economic policies helped maintain a solid foundation, he added.

China's growth rate was one of the highest among major economies last year, providing a stable and reliable engine for global growth and contributing an estimated 30 percent to worldwide GDP expansion, Kang pointed out.

Urban unemployment stood at 5.2 percent last year, and employment remained generally stable, according to Kang. Trade in goods reached a new high, and the country's foreign exchange reserves exceeded USD3.3 trillion.

High-tech manufacturers accounted for more than 17 percent of value-added industrial output, the NBS figures also showed.

Consumption’s contribution to economic growth exceeded 50 percent. Reform and opening-up continued to deepen, with the construction of a unified national market advancing, Kang said.

The Private Economy Promotion Law was officially implemented last year, and the comprehensive rectification of involution-style competition has shown positive results, Kang added.

The intensity of China's research and development expenditure reached 2.8 percent, up from 2.7 percent in 2024, marking the first time the figure exceeded the average among countries from the Organization for Economic Co-operation and Development.

According to data from the World Intellectual Property Organization, China ranked among the top 10 globally for innovation for the first time last year. Moreover, the country has also registered a surge in research achievements in cutting-edge fields such as artificial intelligence, quantum technology, and brain-computer interface.

Kang said China’s economy is also characterized by resilience, reflects the country’s ability to adapt and withstand pressure amid global uncertainty.

Kang also emphasized that it is crucial to be aware of both the old problems and new challenges in economic development and to focus on steadying employment, supporting businesses, ensuring market stability, and managing expectations.

Editor: Futura Costaglione