Global Times: Certainty of high-quality development can be observed from China's Q1 economic data

BEIJING, April 30, 2025 /PRNewswire/ -- At present, the world economy confronts considerable uncertainty.

In the first quarter, China's GDP expanded by 5.4 percent year-on-year, indicating a stable and promising start to the national economy, with high-quality development advancing solidly. The "Q1 report" of the Chinese economy highlights the certainty of high-quality development.

"Over the past 70 years and more, China has achieved development through self-reliance and arduous struggle, never relying on others' mercies, still less fearing any unreasonable suppression."

A meeting of the Political Bureau of the Communist Party of China (CPC) Central Committee on Friday emphasized dealing with the uncertainty of drastic changes in the external environment with the certainty of the country's high-quality development. Under the strong leadership of the CPC Central Committee with Comrade Xi Jinping at its core, all regions and sectors have risen to the challenge, taken proactive steps and unswervingly done their own work. The world's second-largest economy has marched forward bravely without fear of the storm.

First, the certainty of high-quality development lies in the solidity of the Chinese economy's foundation. Such a stable performance is supported by substantial strengths. Strength is evidenced by the products, market and data.

The world's fastest high-speed rail CR450 stepped up its tests, the world's first 12,000-meter automated onshore drilling rig drilled 10,000 meters beneath the land, the world's first ultra-large dual-fuel container ship was delivered, and the launch of Shenzhou-20 manned spacecraft was a complete success - since the beginning of the year, the pillars of a great power make breakthroughs on all fronts, as China's manufacturing delivers a stream of successes.

A US netizen posted a video: A Chinese-made construction machinery sells at the price of 3,700 dollars, and similar products in the US price more than 10 times. After failing to find a suitable alternative, a US client reluctantly placed a 10-million-yuan sunroom order with a Chinese supplier despite steep tariffs.

In the first quarter, China's value-added industrial output expanded 6.5 percent year-on-year, continuing to play its role as an economic stabilizer. Exports rose by 6.9 percent, with total imports and exports exceeding 10 trillion yuan for the eighth consecutive quarter.

China has maintained its position as the world's leading manufacturing powerhouse for 15 consecutive years and has been the top trading nation in goods for eight years running. With a complete industrial system and strong supporting capabilities, its tightly integrated industrial chains and complementary sectors form a resilient material and technological foundation, offering a steadfast backbone in the face of intense global competition.

The consistent performance is also underpinned by robust and enduring domestic demand. New products are driving new growth, new sales channels are fueling new growth momentum and new scenarios are unlocking new consumptions.

Robust domestic demand continues to generate momentum, with consumption and investment both on the rise. In the first quarter, China's total retail sales of consumer goods grew 4.6 percent year-on-year, and fixed-asset investment rose by 4.2 percent - both exceeding the growth rates of the previous year.

Today's China is a mega-sized market with the world's greatest growth potential. Over the past five years, domestic demand has contributed more than 80 percent to the country's economic growth on average. As new forms of industrialization and urbanization as well as green and low-carbon development accelerate, the market will only continue to expand - providing a secure environment for exporters and a solid foundation for various economic sectors.

The stable performance is backed by diversified markets. Chinese companies have proactively adopted strategies to "avoid putting all their eggs in one basket."

Shenzhen-based Unilumin, a leading LED product manufacturer, began expanding overseas just a year after its founding. Now, its sales and service networks span over 160 countries and regions, with localized production capabilities in the US, Brazil, Saudi Arabia, and beyond. According to the company's executive, this global layout significantly reduces the impact of international uncertainties and boosts risk resilience.

The micro mirrors the macro. In recent years, China has expanded its global footprint, now trading with over 150 countries and regions. In the first quarter alone, exports and imports with Germany, Spain, and the UK all saw notable increases. Exports to Belt and Road Initiative (BRI) partner countries rose 7.2 percent year-on-year, with these markets accounting for over 50 percent of China's total trade volume in goods.

At the macro level, in recent years, China has actively expanded into international markets and built a diversified trade structure, establishing trade partnerships with over 150 countries and regions around the world.

While "doing business with the world," China is enhancing its collaboration with global industrial and supply chains, reducing its reliance on any single export market and strengthening the resilience of its foreign trade.

Today's China has built a solid economic foundation through decades of development and is now transitioning toward a new model driven by domestic demand and innovation. With its comprehensive industrial system and vast market size, China has both the production strength and demand potential to withstand a broad range of external shocks.

Second, the certainty of high-quality development lies in the growing momentum of its driving forces.

In the first quarter, the value-added output of high-tech manufacturing enterprises above a designated size increased by 9.7 percent year-on-year, raising its share to 15.7 percent of total industrial output. This reflects the robust growth of new quality productive forces.

This growth is evident in scientific innovation, industrial upgrading and talent dividends.

Today, China's innovation engine is more powerful than ever, with major technological breakthroughs accelerating and momentum shifting decisively from traditional to new growth drivers. No matter the calls for "small yard, high fence" or "decoupling," China's path toward innovation remains unstoppable.

Third, the certainty of high-quality development lies in the initiative to expand opening-up.

In the first quarter, the number of newly established foreign-invested enterprises in China increased by 4.3 percent year-on-year, with imports and exports rising by 1.3 percent, and the number of foreign nationals visiting China surged by 33.4 percent. Amid a more turbulent global landscape, this "oasis of certainty" is further opening its doors to the world.

This reflects China's proactive commitment to sharing development opportunities globally.

In mid-April, the 5th China International Consumer Products Expo was held in Hainan, attracting over 1,700 enterprises and more than 4,100 brands from over 70 countries and regions - making it the largest edition to date.

Foreign enterprises continue to engage in business with China, bringing high-quality products and a desire to share in China's development opportunities. In response to these expectations and taking proactive responsibility, China continues to expand its openness. A China that is closely connected with the world is enlarging the cooperation "pie," and gathering more and more strength for development.

This reflects China's proactive efforts in steadily expanding institutional opening-up.

China is steadily expanding institutional openness in areas, such as rules, regulations, management and standards, continuously creating a "strong magnetic field" to attract foreign investment. Believing in China is believing in tomorrow, and investing in China is investing in the future. Today, optimism about China and upgrading China's projections have become buzzwords in the international business community, where China is increasingly seen as an ideal, safe, and promising investment destination.

This reflects China's proactive approach to promoting inclusive and equitable economic globalization.

Opening up to the world remains China's fundamental national policy. As global protectionism intensifies, China's resolve to expand its openness has only grown stronger. The underlying logic of China's economy continuing to grow and improve remains unchanged, as does the principle of benefiting the world. This is the greatest certainty of China's economy in relation to the world economy.

Fourth, the certainty of high-quality development lies in the effectiveness of governance on the macro level.

In the first quarter, both stock and incremental policies worked in synergy, with their effects continuing to show, playing an important role in achieving a strong start.

Macro policy is an important tool to promote high-quality economic development. With strong and effective policies to respond to the uncertainties in the external environment, we are experienced, well-equipped, well-prepared and confident.

Confidence comes from repeated successful practices of turning crises into opportunities. It also comes from careful and proactive planning as well as the collective wisdom that shows the strength of unity.

Grasping the certainty of high-quality development will help enhance the scientific understanding of current conditions and boost initiative in managing economic work.

The evolving global landscape and external shocks will not alter China's fundamental economic strengths, advantages, resilience, or potential. Nor will they derail the long-term upward trajectory of China's economy. Amid difficulties and challenges, the future, hope and opportunities remain clearly in sight.

By remaining focused on running our own affairs, the 1.4 billion Chinese people will ultimately overcome all the difficulties and challenges ahead, and open new horizons for development through tenacious struggle.

The article was originally published on the People's Daily.

SOURCE Global Times