China's economic growth target of around 5% has become a focal point at the 2025 Boao Forum for Asia Annual Conference, with experts and business leaders expressing confidence in the country's ability to meet this goal.

The four-day forum, which began on Tuesday in Boao, south China's Hainan province, has drawn attention to China's economic resilience, policy measures and investment potential.

Carl Fey, a strategy professor at BI Norwegian Business School, speaks to reporters on the sidelines of the Boao Forum in south China's Hainan province, March 25, 2025. [Photo by Xu Xiaoxuan/China.org.cn]

Carl Fey, a strategy professor at BI Norwegian Business School, highlighted China's consistent record of achieving its economic targets. "When China sets a target, it almost always makes sure that it is met," he said.

He stressed the importance of stimulating the economy through investment incentives. Policies such as subsidies for purchasing new energy vehicles (NEVs) and incentives for companies to upgrade equipment could contribute to both short-term growth and long-term development, Fey added.

Michele Geraci, former undersecretary of state at the Italian Ministry of Economic Development, speaks to reporters on the sidelines of the Boao Forum in south China's Hainan province, March 25, 2025. [Photo by Xu Xiaoxuan/China.org.cn]

Michele Geraci, former undersecretary of state at the Italian Ministry of Economic Development, called the 5% target "excellent" and beneficial for global economic growth.

He cited Chinese Premier Li Qiang's keynote speech at the China Development Forum 2025 in Beijing on Sunday as reinforcing confidence in China's economic governance and future potential.

John Keane, a politics professor at the University of Sydney, speaks to reporters on the sidelines of the Boao Forum in south China's Hainan province, March 25, 2025. [Photo by Xu Xiaoxuan/China.org.cn]

John Keane, a politics professor at the University of Sydney, dismissed pessimistic Western claims about China's economic future.

"Despite Western predictions that the Chinese economy will collapse, the statistics show otherwise. There is just a slowdown in the rate of growth," Keane said.

Earlier this year, the World Economic Forum predicted a strained global economy, with 56% of surveyed chief economists expecting weaker growth ahead.

In response, China has reinforced pro-growth policies. A package of measures introduced last September by the Political Bureau of the Central Committee of the Communist Party of China has boosted social confidence and led to a notable economic recovery. This year, China plans a moderately loose monetary policy and a more proactive fiscal policy, raising the deficit-to-GDP ratio to about 4%.

Temir Porras, managing director at Global Sovereign Advisory, speaks with China.org.cn on the sidelines of the Boao Forum in south China's Hainan province, March 25, 2025. [Photo by Xu Xiaoxuan/China.org.cn]

From an international investment perspective, China remains highly attractive, according to Temir Porras, managing director at Global Sovereign Advisory, a company that advises states and state-owned entities on strategic issues.

"It is crucial to observe China's economic progress and the opportunities it presents for international investors," Porras said.

China's commitment to further opening up its market is evident. The country established over 52,000 new foreign-invested enterprises in the first 11 months of 2024, with actual foreign direct investment reaching 749.7 billion yuan ($103 billion), according to a State Council Information Office press conference held earlier this year.

China's market of 1.4 billion people, including more than 400 million middle-income consumers, continues to attract multinational companies. The 2025 China Business Climate Survey Report by the American Chamber of Commerce in China found that over half of American enterprises in China plan to increase investment this year, with nearly 70% in the consumer sector planning expansion.

Related

Go to Forum >>0 Comment(s)