China's GDP is projected to reach 140 trillion yuan in 2025, Chairman of the National Development and Reform Commission Zheng Shanjie said Wednesday. Over the first four years of the 14th Five-Year Plan period, China’s economy grew at an average annual rate of 5.5%, demonstrating China’s strong economic resilience. In the latest W.E. Talk, Chief Economist for Asia Pacific at Natixis Alicia Garcia-Herrero noted that China’s private sector promotion law and the “10,000 Little Giants” program address over-competition and financing bottlenecks, unleashing SME innovation. Internationally, China champions a rules-based trading system and diversifies supply chains to navigate trade frictions.
Assistant Secretary-General for Economic Development in the Department of Economic and Social Affairs (DESA) Navid Hanif observed that both China and the UN have reiterated that trade wars have no winners and urged all nations to uphold open, multilateral trade. In addition, Hanif added that China has responded by diversifying trade partners and deepening South-South cooperation to a "rules-based multilateral trading system". (Chen Tianhao)
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