The Chinese government has outlined its key economic goals and policies for 2025 in a work report submitted to the national legislature for deliberation.
China has set a GDP growth target of around 5% and aims for an annual consumer price index increase of approximately 2%.
To support economic expansion, the government will issue 1.3 trillion yuan (about 182 billion U.S. dollars) in ultra-long special treasury bonds, 300 billion yuan more than last year.
Additionally, new government debt will total 11.86 trillion yuan in 2025, up by 2.9 trillion yuan from the previous year, allowing for higher fiscal spending.
China plans to issue 4.4 trillion yuan in local government special-purpose bonds, marking a 500 billion yuan increase from last year.
To stimulate growth, the government will adjust monetary policies, including cutting reserve ratios and interest rates when needed. It will also issue 500 billion yuan in special treasury bonds to help large state-owned banks replenish capital.
Structural monetary tools will be expanded to provide greater support for the real estate sector and stock market. China will also launch initiatives to boost consumption, such as issuing 300 billion yuan in ultra-long special treasury bonds for consumer goods trade-in programs.
The country aims to foster strategic emerging industries while supporting new and future sectors. Reforms in investment and financing within the capital market will deepen, encouraging long- and medium-term capital investments.
The report underscores China’s commitment to developing the platform economy, promoting innovation, expanding consumption, and stabilizing employment. Special support will be given to unicorn and gazelle companies in 2025.
To safeguard financial stability, China will strengthen contingency plans to manage external risks and guide private investment toward infrastructure and public welfare projects.
The government has set the urban unemployment rate target at around 5.5% for 2025, emphasizing employment stabilization as a key priority.
