Dean Jun Qian Accepts an Exclusive Interview of CGTN, Interpreting China’s Economic Resilience in 2025 and New Growth Drivers for a Strong Start to the “15th Five-Year Plan” | Info

Release time：2026-01-22    

On January 19^th 2026, data released by the National Bureau of Statistics showed that China’s gross domestic product (GDP) exceeded RMB 140 trillion yuan for the first time in 2025, growing by 5% year-on-year at constant prices. The following day, Jun Qian, Executive Dean of FISF and Professor in Finance, gave an interview to China Global Television Network (CGTN), offering an in-depth interpretation of China’s economic performance in 2025 and the outlook for the start of the “15^th Five-Year” Plan.

Jun Qian

Executive Dean of FISF

Professor in Finance

Qian noted that despite significant pressures from global economic uncertainties and trade frictions, China’s economy demonstrated remarkable resilience in 2025, with manufacturing and exports exceeding expectations and serving as a core pillar of growth. However, on a quarter-on-quarter basis, growth slowed from the first to the fourth quarter. Looking at major sectors, consumption (as measured by retail sales) also showed weaker growth in the second half of the year compared with the first half, reflecting that domestic demand and consumption remained weak links. To address this, in the first year of the “15^th Five-Year” Plan, governments at all levels will further advance structural reforms and push for a transition toward a development model primarily driven by domestic demand and consumption.

He held that China’s robust performance in manufacturing and exports is primarily attributable to the international competitive advantages of “high quality, low cost” that Chinese enterprises have developed in emerging industries (such as electric vehicles and solar panels), as well as the strategic resilience displayed by export enterprises through active adjustments to their global market layout and reduction of their reliance on any single market. In the context of a real RMB appreciation against USD over the past year, China still achieved a record trade surplus, which is exactly a manifestation of this underlying competitiveness.

Talking of the current economic challenges for China, Jun Qian pointed out that domestic demand and consumption remain the key issue. The weakness in the real estate market is one of the main reasons for sluggish urban consumption. Given that real estate is still the most important asset for Chinese urban households, realizing the “stabilization after a downturn” of the real estate market is crucial for restoring consumer confidence. In response, the Chinese government has made housing market stabilization a key priority for the new year. In Shanghai, for example, some real estate segments have already shown signs of stabilization. With further policy support, if first-tier cities can achieve stabilization by the first half of the year, more cities are expected to gradually stabilize by the end of the year, thereby helping to revitalize the consumption market.

Qian emphasized that from a global perspective, China is still one of the fastest-growing major economies. Since 2008, China’s growth has not only benefited itself but has also made significant contributions to global growth. Therefore, maintaining a sustainable growth path will enable China to continue serving as a key engine driving world economic development.