(ECNS) -- China's economy maintained steady and progressive development during the first three quarters of 2025, laying a solid foundation for achieving China's full-year gross domestic product (GDP) growth target, the People's Bank of China (PBOC) said in a report on Tuesday.
The monetary policy report for the third quarter of 2025 showed that China's GDP expanded 5.2 percent year on year in the first three quarters, underpined by stable growth in production and supply, a steady expansion of new growth drivers, and continuous improvement in people's livelihoods. This performance demonstrates the economy's resilience and vitality.
The report highlighted several positive factors, including sound production and supply growth, continuously unleashed consumption potential, and more proactive and effective macroeconomic policies.
Retail sales of commodities involved in the trade-in programs maintained double-digit growth, with sales of high-efficiency and smart home appliances sustaining rapid growth, the report noted. Meanwhile, policies to boost domestic demand and market vitality have taken effect, it added.
Industry experts said that the central bank continues to emphasize balancing short-term and long-term goals, stabilizing growth and preventing risks, internal and external factors, as well as supporting the economy and maintaining the health of the banking system.
Given multiple external uncertainties and insufficient domestic demand, experts suggested implementing appropriately accommodative monetary policies, ensuring their effective implementation, and fully unleashing policy effects.
Market analysts indicated that with the coordinated efforts of fiscal, monetary, and industrial policies, China is expected to successfully achieve its annual economic growth target of around 5 percent.
(By Zhang Dongfang)
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