国务院新闻办新闻局局长、新闻发言人寿小丽:

Shou Xiaoli:

女士们、先生们，大家上午好！欢迎出席国务院新闻办新闻发布会。今天我们进行经济数据例行发布，我们邀请到国家统计局局长康义先生，国家统计局新闻发言人、总经济师、国民经济综合统计司司长付凌晖先生，请他们为大家介绍2025年国民经济运行情况，并回答大家关心的问题。

Ladies and gentlemen, good morning. Welcome to this press conference held by the State Council Information Office (SCIO). This is a regular briefing on economic data. Today, we have invited Mr. Kang Yi, commissioner of the National Bureau of Statistics (NBS), and Mr. Fu Linghui, spokesperson of the NBS and director general of the Department of Comprehensive Statistics of the NBS, to brief you on China's economic performance in 2025 and answer your questions.

下面，我们首先请康义先生作介绍。

Now, I'll give the floor to Mr. Kang for his introduction.

国家统计局局长康义:

Kang Yi:

各位媒体朋友，大家上午好！很高兴参加国务院新闻办公室新闻发布会，感谢各位媒体朋友长期以来对统计工作的大力支持。今天，又到了一年一度发布全年经济数据的时候，大家都很关心过去一年我国经济社会发展情况。下面，我先向大家通报2025年国民经济运行有关数据，然后再回答大家关心的问题。

Good morning, everyone. I am very pleased to be part of this SCIO briefing, and I would like to thank all friends from the media for your ongoing support of our work. Today marks the annual release of economic data, and there is significant interest in China's economic and social development over the past year. First, I will present the relevant data on China's economic performance in 2025, and then take your questions.

2025年经济发展向新向优，预期目标圆满实现。

China's economy moved toward new growth drivers and higher-quality development in 2025, successfully achieving the expected goals.

2025年，面对国内外经济环境的复杂变化，在以习近平同志为核心的党中央坚强领导下，各地区各部门深入贯彻落实党中央、国务院决策部署，坚定不移贯彻新发展理念、推动高质量发展，统筹国内国际两个大局，统筹发展和安全，实施更加积极有为的宏观政策，纵深推进全国统一大市场建设，国民经济运行顶压前行、向新向优，高质量发展取得新成效，经济社会发展主要目标任务圆满实现，“十四五”胜利收官。

In 2025, facing complex changes in the economic environment at home and abroad, all regions and departments, under the strong leadership of the Central Committee of the Communist Party of China (CPC) with Comrade Xi Jinping at its core, thoroughly implemented the decisions and plans of the CPC Central Committee and the State Council. We resolutely embraced the new development philosophy, promoted high-quality development, coordinated the domestic and international situations, and balanced development and security. Proactive and effective macro policies were enacted, and the construction of a unified national market was deepened. China's economy continued to embrace innovation and excellence despite challenges, achieving new outcomes in high-quality development. The main goals and tasks of economic and social development were achieved, and the 14th Five-Year Plan was successfully concluded.

初步核算，全年国内生产总值1401879亿元，按不变价格计算，比上年增长5.0%。分产业看，第一产业增加值93347亿元，比上年增长3.9%；第二产业增加值499653亿元，增长4.5%；第三产业增加值808879亿元，增长5.4%。分季度看，一季度国内生产总值同比增长5.4%，二季度增长5.2%，三季度增长4.8%，四季度增长4.5%。从环比看，四季度国内生产总值增长1.2%。

According to preliminary estimates, the gross domestic product (GDP) was 140.1879 trillion yuan in 2025, an increase of 5.0% over the previous year at constant prices. By industries, the value added of the primary industry was 9.3347 trillion yuan, up by 3.9% over last year, that of the secondary industry was 49.9653 trillion yuan, up by 4.5%, and that of the tertiary industry was 80.8879 trillion yuan, up by 5.4%. By quarters, GDP increased by 5.4% year on year in the first quarter, 5.2% in the second quarter, 4.8% in the third quarter and 4.5% in the fourth quarter. GDP in the fourth quarter increased by 1.2% quarter on quarter.

一、粮食增产丰收，畜牧业稳定增长

First, grain output increased and production of animal husbandry grew steadily.

全年全国粮食总产量71488万吨，比上年增加838万吨，增长1.2%。其中，夏粮产量14975万吨，下降0.1%；早稻产量2851万吨，增长1.2%；秋粮产量53662万吨，增长1.5%。分品种看，小麦产量14007万吨，基本持平；玉米产量30124万吨，增长2.1%；稻谷产量20904万吨，增长0.7%；大豆产量2091万吨，增长1.3%。全年猪牛羊禽肉产量10072万吨，比上年增长4.2%，首次超过1亿吨。其中，猪肉产量5938万吨，增长4.1%；牛肉产量801万吨，增长2.8%；羊肉产量496万吨，下降4.2%；禽肉产量2837万吨，增长6.7%。牛奶产量4091万吨，增长0.3%；禽蛋产量3498万吨，下降2.5%。全年生猪出栏71973万头，增长2.4%；年末生猪存栏42967万头,增长0.5%。

The total output of grain in 2025 was 714.88 million metric tons, an increase of 8.38 million metric tons over the previous year, or up by 1.2%. Of this total, the output of summer grain was 149.75 million metric tons, down by 0.1%, and that of early rice was 28.51 million metric tons, up by 1.2%. The output of autumn grain reached 536.62 million metric tons, up by 1.5%. By crop type, the output of wheat was 140.07 million metric tons, remaining basically unchanged; that of corn was 301.24 million metric tons, up by 2.1%; that of rice was 209.04 million metric tons, up by 0.7%; and that of soybeans was 20.91 million metric tons, up by 1.3%. The total output of pork, beef, mutton and poultry reached 100.72 million metric tons, up by 4.2% over the previous year, and marking the first time it has exceeded 100 million metric tons. Of this total, the output of pork was 59.38 million metric tons, up by 4.1%; beef, 8.01 million metric tons, up by 2.8%; mutton, 4.96 million metric tons, down by 4.2%; and poultry, 28.37 million metric tons, up by 6.7%. Milk production reached 40.91 million metric tons, up by 0.3% and that of eggs reached 34.98 million metric tons, down by 2.5%. A total of 719.73 million pigs were slaughtered throughout the year, up by 2.4%, and 429.67 million pigs were registered in stock at the end of the year, up by 0.5%.

二、工业生产较快增长，装备制造业和高技术制造业增势较好

Second, industrial production grew fast, with equipment manufacturing and high-tech manufacturing showing good growth momentum.

全年全国规模以上工业增加值比上年增长5.9%。分三大门类看，采矿业增加值增长5.6%，制造业增长6.4%，电力、热力、燃气及水生产和供应业增长2.3%。装备制造业增加值增长9.2%，高技术制造业增加值增长9.4%，增速分别快于规模以上工业3.3、3.5个百分点。分经济类型看，国有控股企业增加值增长4.6%；股份制企业增长6.3%，外商及港澳台投资企业增长3.9%；私营企业增长5.3%。分产品看，3D打印设备、工业机器人、新能源汽车产品产量分别增长52.5%、28.0%、25.1%。12月份，规模以上工业增加值同比增长5.2%，环比增长0.49%。12月份，制造业采购经理指数为50.1%，比上月上升0.9个百分点；企业生产经营活动预期指数为55.5%，上升2.4个百分点。1—11月份，全国规模以上工业企业实现利润总额66269亿元，同比增长0.1%。

In 2025, the total value added of industrial enterprises above designated size increased by 5.9% year on year. In terms of sectors, the value added of mining was up by 5.6%, that of manufacturing was up by 6.4%, and that of production and supply of electricity, thermal power, gas and water was up by 2.3%. The value added of equipment manufacturing went up by 9.2%, and that of high-tech manufacturing up by 9.4%, which were 3.3 percentage points and 3.5 percentage points faster than that of industrial enterprises above designated size, respectively. In terms of ownership, the value added of state holding enterprises grew by 4.6%, that of share-holding enterprises was up by 6.3%, that of enterprises funded by foreign investors and investors from Hong Kong, Macao and Taiwan increased by 3.9%, and that of private enterprises was up by 5.3%. In terms of products, the outputs of 3D printing devices, industrial robots and new energy vehicles (NEVs) grew by 52.5%, 28.0% and 25.1% year on year, respectively. In December, the total value added of industrial enterprises above designated size grew by 5.2% year on year, or up by 0.49% month on month. In December, the Manufacturing Purchasing Managers’ Index stood at 50.1%, 0.9 percentage point higher than that of November; and the Production and Operation Expectation Index was 55.5%, up by 2.4 percentage points. In the first 11 months, the total profits made by industrial enterprises above designated size were 6.6269 trillion yuan, up by 0.1% year on year.

三、服务业平稳增长，现代服务业发展良好

Third, the service sector grew steadily, and the modern service industry developed well.

全年服务业增加值比上年增长5.4%。其中，信息传输、软件和信息技术服务业，租赁和商务服务业，交通运输、仓储和邮政业，批发和零售业，住宿和餐饮业增加值分别增长11.1%、10.3%、5.2%、5.0%、4.9%。12月份，服务业生产指数同比增长5.0%。其中，信息传输、软件和信息技术服务业，租赁和商务服务业，金融业生产指数分别增长14.8%、11.3%、6.5%。1—11月份，规模以上服务业企业营业收入同比增长7.8%。12月份，服务业商务活动指数为49.7%，比上月上升0.2个百分点；服务业业务活动预期指数为56.4%,上升0.5个百分点。其中，电信广播电视及卫星传输服务、货币金融服务、资本市场服务等行业商务活动指数均位于60.0%以上高位景气区间。

The value added of the service sector went up by 5.4% over the previous year. Specifically, the value added of information transmission, software and information technology services grew by 11.1%, leasing and business services increased by 10.3%, transportation, warehousing and postal services grew by 5.2%, wholesale and retail trade increased by 5.0%, and accommodation and catering services grew by 4.9%. In December, the Index of Services Production grew by 5.0% year on year. Specifically, the Index of Services Production of information transmission, software and information technology services went up by 14.8%, leasing and business services went up by 11.3%, and financial intermediation went up by 6.5%. In the first 11 months, the business revenue of service enterprises above designated size grew by 7.8% year on year. In December, the Business Activity Index for Services was 49.7%, up by 0.2 percentage point compared with November; and the Business Activity Expectation Index for Services stood at 56.4%, up by 0.5 percentage point. Specifically, the Business Activity Index for sectors like telecommunication, broadcast, television and satellite transmission services, monetary and financial services, and capital market services stayed within the high expansion range of 60.0% and above.

四、市场销售规模扩大，服务零售较快增长

Fourth, market sales expanded, and growth of service retail accelerated.

全年社会消费品零售总额501202亿元，比上年增长3.7%。按经营单位所在地分，城镇消费品零售额432972亿元，增长3.6%；乡村消费品零售额68230亿元，增长4.1%。按消费类型分，商品零售额443220亿元，增长3.8%；餐饮收入57982亿元，增长3.2%。基本生活类和部分升级类商品销售增势较好，全年限额以上单位通讯器材类、文化办公用品类、体育娱乐用品类、家用电器和音像器材类、粮油食品类商品零售额分别增长20.9%、17.3%、15.7%、11.0%、9.3%。全国网上零售额159722亿元，比上年增长8.6%。其中，实物商品网上零售额130923亿元，增长5.2%，占社会消费品零售总额的比重为26.1%。12月份，社会消费品零售总额同比增长0.9%，环比下降0.12%。全年服务零售额比上年增长5.5%。其中，文体休闲服务类、通讯信息服务类、旅游咨询租赁服务类、交通出行服务类零售额较快增长。

In 2025, the total retail sales of consumer goods reached 50.1202 trillion yuan, up by 3.7% over the previous year. Analyzed by different areas, retail sales in urban areas reached 43.2972 trillion yuan, up by 3.6%; and that in rural areas stood at 6.8230 trillion yuan, up by 4.1%. Grouped by consumption patterns, the retail sales of goods were 44.3220 trillion yuan, up by 3.8%; and the income of catering was 5.7982 trillion yuan, up by 3.2%. Sales of basic necessities and some upgraded goods showed good growth. Over the entire year, the retail sales of communication equipment, cultural and office supplies, sports and entertainment products, household appliances and audio-visual equipment, and grain, oil and food products by enterprises above the designated size increased by 20.9%, 17.3%, 15.7%, 11.0% and 9.3%, respectively. China's online retail sales reached 15.9722 trillion yuan, up by 8.6% over the previous year. Specifically, the online retail sales of physical goods were 13.0923 trillion yuan, up by 5.2%, accounting for 26.1% of the total. In December, the total retail sales of consumer goods rose 0.9% year on year, but fell 0.12% month on month. The retail sales of services in 2025 grew by 5.5% over the previous year. Specifically, the retail sales of cultural, sports and leisure services, communication information services, tourism consultation and rental services, and transportation services grew relatively quickly.

五、固定资产投资同比下降，制造业投资保持增长

Fifth, investment in fixed assets declined year on year, while investment in the manufacturing sector maintained growth.

全年全国固定资产投资（不含农户）485186亿元，比上年下降3.8%；扣除房地产开发投资，全国固定资产投资下降0.5%。分领域看，基础设施投资下降2.2%，制造业投资增长0.6%，房地产开发投资下降17.2%。全国新建商品房销售面积88101万平方米，下降8.7%；新建商品房销售额83937亿元，下降12.6%。分产业看，第一产业投资增长2.3%，第二产业投资增长2.5%，第三产业投资下降7.4%。民间投资下降6.4%；扣除房地产开发投资，民间投资下降1.9%。高技术产业中，信息服务业，航空、航天器及设备制造业投资分别增长28.4%、16.9%。12月份，固定资产投资（不含农户）环比下降1.13%。

In 2025, investment in fixed assets (excluding rural households) reached 48.5186 trillion yuan, down by 3.8% over the previous year; and with real estate development investment deducted, the investment in fixed assets was down by 0.5%. Specifically, the investment in infrastructure declined by 2.2%; that in manufacturing grew by 0.6%; and that in real estate development fell by 17.2%. The floor space of newly-built commercial buildings sold was 881.01 million square meters, down by 8.7%; and the total sales of newly-built commercial buildings was 8.3937 trillion yuan, down by 12.6%. By industry, investment in the primary industry went up by 2.3%; that in the secondary industry went up by 2.5%; and that in the tertiary industry went down by 7.4%. The private investment went down by 6.4%. Deducting the investment in real estate development, the private investment decreased by 1.9%. In the high-tech industry, investment in the information service industry and the aviation, spacecraft and equipment manufacturing industry increased by 28.4% and 16.9%, respectively. In December, fixed-asset investment (excluding rural households) decreased by 1.13% month on month.

六、货物进出口稳定增长，贸易结构持续优化

Sixth, imports and exports of goods grew steadily, and the trade structure continued to optimize.

全年货物进出口总额454687亿元，比上年增长3.8%。其中，出口269892亿元，增长6.1%；进口184795亿元，增长0.5%。民营企业进出口增长7.1%，占进出口总额的比重为57.3%，比上年提高1.8个百分点。对共建“一带一路”国家进出口增长6.3%，占进出口总额的比重为51.9%。高技术产品出口增长13.2%。12月份，货物进出口总额42630亿元，同比增长4.9%。其中，出口25359亿元，增长5.2%；进口17271亿元，增长4.4%。

In 2025, the total value of imports and exports of goods was 45.4687 trillion yuan, an increase of 3.8% over the previous year. The value of exports was 26.9892 trillion yuan, up by 6.1%, and the value of imports was 18.4795 trillion yuan, up by 0.5%. The imports and exports by private enterprises grew by 7.1%, accounting for 57.3% of the total value of imports and exports, 1.8 percentage points higher than that of the previous year. The imports and exports with Belt and Road partner countries grew by 6.3%, accounting for 51.9% of total imports and exports. Exports of high-tech products increased by 13.2%. In December, the total value of imports and exports of goods was 4.263 trillion yuan, up by 4.9% year on year. Specifically, the total value of exports was 2.5359 trillion yuan, up by 5.2%; and the total value of imports was 1.7271 trillion yuan, up by 4.4%.

七、居民消费价格总体平稳，核心CPI温和回升

Seventh, consumer prices were generally stable, and the core consumer price index (CPI) registered a moderate rebound.

全年居民消费价格（CPI）与上年持平。分类别看，食品烟酒价格下降0.7%，衣着价格上涨1.5%，居住价格上涨0.1%，生活用品及服务价格上涨0.9%，交通通信价格下降2.6%，教育文化娱乐价格上涨0.8%，医疗保健价格上涨0.8%，其他用品及服务价格上涨9.3%。在食品烟酒价格中，猪肉价格下降6.1%，鲜菜价格下降3.9%，粮食价格下降1.0%，鲜果价格上涨1.2%。扣除食品和能源价格后的核心CPI上涨0.7%，涨幅比上年扩大0.2个百分点。12月份，居民消费价格同比上涨0.8%，涨幅比上月扩大0.1个百分点；环比上涨0.2%。全年工业生产者出厂价格比上年下降2.6%；12月份同比下降1.9%，环比上涨0.2%。全年工业生产者购进价格比上年下降3.0%；12月份同比下降2.1%，环比上涨0.4%。

In 2025, the Consumer Price Index (CPI) remained unchanged from the previous year. Grouped by commodity categories, prices for food, tobacco and alcohol went down by 0.7%; clothing up by 1.5%; housing up by 0.1%; articles and services for daily use up by 0.9%; transportation and communication down by 2.6%; education, culture and recreation up by 0.8%; medical services and health care up by 0.8%; and other articles and services up by 9.3%. In terms of prices for food, tobacco and alcohol, prices of pork went down by 6.1%, fresh vegetables down by 3.9%, grain down by 1.0%, and fresh fruits up by 1.2%. The core CPI, excluding the prices of food and energy, grew 0.7% year on year, 0.2 percentage point higher than that of last year. In December, the consumer price index was 0.8% higher year on year, with the growth rate widening by 0.1 percentage point from the previous month, or up 0.2% month on month. In 2025, the producer prices for industrial products went down by 2.6% over the previous year; in December, it went down by 1.9% year on year, or up by 0.2% month on month. In 2025, the purchasing prices for industrial producers went down by 3.0% over that of the previous year; in December, it went down by 2.1% year on year, or up by 0.4% month on month.

八、就业形势总体稳定，城镇调查失业率平稳

Eighth, employment was generally stable and the urban surveyed unemployment rate was steady.

全年全国城镇调查失业率平均值为5.2%。12月份，全国城镇调查失业率为5.1%。本地户籍劳动力调查失业率为5.3%；外来户籍劳动力调查失业率为4.7%，其中外来农业户籍劳动力调查失业率为4.4%。31个大城市城镇调查失业率为5.1%。全国企业就业人员周平均工作时间为48.6小时。全年农民工总量30115万人，比上年增加142万人，增长0.5%。其中，本地农民工12109万人，增长0.1%；外出农民工18006万人，增长0.8%。

In 2025, the urban surveyed unemployment rate averaged 5.2%. In December, the urban surveyed unemployment rate was 5.1%. The surveyed unemployment rate of population with local household registration was 5.3% and that of population with non-local household registration was 4.7%, of which, the rate of the population with non-local agricultural household registration was 4.4%. The urban surveyed unemployment rate in 31 major cities was 5.1%. Employees of enterprises worked 48.6 hours per week on average. In 2025, the number of rural migrant workers totaled 301.15 million, 1.42 million more than that of the previous year, or up by 0.5%. Specifically, local migrant workers totaled 121.09 million, up by 0.1%; and outbound migrant workers totaled 180.06 million, up by 0.8%.

九、居民收入持续增长，农村居民收入增速快于城镇

Ninth, residents' income continued to increase and the incomes of rural residents grew faster than that of urban residents.

全年全国居民人均可支配收入43377元，比上年名义增长5.0%，扣除价格因素实际增长5.0%。按常住地分，城镇居民人均可支配收入56502元，比上年名义增长4.3%，实际增长4.2%；农村居民人均可支配收入24456元，比上年名义增长5.8%，实际增长6.0%。全国居民人均可支配收入中位数36231元，比上年名义增长4.4%。按全国居民五等份收入分组，低收入组人均可支配收入10150元，中间偏下收入组22702元，中间收入组35536元，中间偏上收入组55586元，高收入组103778元。全年全国居民人均消费支出29476元，比上年名义增长4.4%，扣除价格因素实际增长4.4%。全国居民人均食品烟酒消费支出占人均消费支出的比重（恩格尔系数）为29.3%，比上年下降0.5个百分点；全国居民人均服务性消费支出增长4.5%，占人均消费支出的比重为46.1%，与上年持平。

In 2025, the nationwide per capita disposable income of residents was 43,377 yuan, a nominal increase of 5.0% over that of the previous year, or a real growth of 5.0% after adjusting for price factors. In terms of permanent residence, the per capita disposable income of urban residents was 56,502 yuan, a nominal growth of 4.3% over the previous year or a real growth of 4.2% after adjusting for price factors. The per capita disposable income of rural households was 24,456 yuan, a nominal growth of 5.8% over the previous year or a real growth of 6.0% after adjusting for price factors. The median of the nationwide per capita disposable income nationwide was 36,231 yuan, a nominal increase of 4.4% over the previous year. Grouped by income quintile, the per capita disposable income of the low-income group reached 10,150 yuan, the lower-middle-income group 22,702 yuan, the middle-income group 35,536 yuan, the upper-middle-income group 55,586 yuan, and the high-income group 103,778 yuan. In 2025, the nationwide per capita consumption expenditure was 29,476 yuan, a nominal growth of 4.4% over the previous year or a real growth of 4.4% after adjusting for price factors. The per capita consumption expenditure on food, tobacco and alcohol accounted for 29.3% of the per capita consumption expenditure (Engel's coefficient), 0.5 percentage point lower than that of the previous year. The per capita consumption expenditure on services went up by 4.5%, accounting for 46.1% of the per capita consumption expenditure, the same with that of the previous year.

十、人口总量有所减少，城镇化率继续提高

Tenth, total population declined and the urbanization rate continued to rise.

年末全国人口（包括31个省、自治区、直辖市和现役军人的人口，不包括居住在31个省、自治区、直辖市的港澳台居民和外籍人员）140489万人，比上年末减少339万人。全年出生人口792万人，人口出生率为5.63‰；死亡人口1131万人，人口死亡率为8.04‰；人口自然增长率为-2.41‰。从性别构成看，男性人口71685万人，女性人口68804万人，总人口性别比为104.19（以女性为100）。从年龄构成看，16—59岁人口85136万人，占全国人口的比重为60.6%；60岁及以上人口32338万人，占全国人口的23.0%，其中65岁及以上人口22365万人，占全国人口的15.9%。从城乡构成看，城镇常住人口95380万人，比上年末增加1030万人；乡村常住人口45109万人，减少1369万人；城镇人口占全国人口的比重（城镇化率）为67.89%，比上年末提高0.89个百分点。从受教育程度看，16—59岁人口平均受教育年限达到11.3年，比上年提高0.1年。

By the end of 2025, the national population was 1.40489 billion (including the population of 31 provinces, autonomous regions and municipalities directly under the central government and servicemen, but excluding residents of Hong Kong, Macao and Taiwan and foreigners living in the 31 provinces, autonomous regions and municipalities directly under the central government), a decrease of 3.39 million over the end of 2024. In 2025, the number of births was 7.92 million with a birth rate of 5.63 per thousand; the number of deaths was 11.31 million with a mortality rate of 8.04 per thousand; the natural population growth rate was minus 2.41 per thousand. In terms of gender, the male population was 716.85 million, and the female population was 688.04 million; and the sex ratio of the total population was 104.19 males to every 100 females. In terms of age structure, the population aged 16 to 59 was 851.36 million, accounting for 60.6% of the total population; and the population aged 60 and over was 323.38 million, accounting for 23.0% of the total population. Specifically, the population aged 65 and over was 223.65 million, accounting for 15.9% of the total population. In terms of urban-rural structure, the number of permanent residents in urban areas was 953.80 million, an increase of 10.30 million over the end of the previous year; and the number of permanent residents in rural areas was 451.09 million, a decrease of 13.69 million. The share of urban population in the total population (urbanization rate) was 67.89%, 0.89 percentage point higher than that at the end of the previous year. In terms of education level, the average years of schooling for the population aged 16-59 reached 11.3 years, an increase of 0.1 years from the previous year.

总的来看，2025年国民经济顶住多重压力保持稳中有进发展态势，高质量发展取得新成效。但也要看到，外部环境变化影响加深，国内供强需弱矛盾突出，经济发展中老问题、新挑战仍然不少。下阶段，要坚持以习近平新时代中国特色社会主义思想为指导，全面贯彻落实党的二十大、二十届历次全会精神和中央经济工作会议部署要求，坚持稳中求进、提质增效，实施更加积极有为的宏观政策，持续扩大内需、优化供给，做优增量、盘活存量，因地制宜发展新质生产力，纵深推进全国统一大市场建设，推动经济实现质的有效提升和量的合理增长，确保“十五五”开好局、起好步。

Overall, in 2025, the national economy withstood multiple pressures and maintained a steady growth with positive momentum, achieving new results in high-quality development. However, we must be aware that the impact of changes in the external environment has intensified, structural imbalances marked by strong supply and weak demand remain pronounced at home, and both long-standing issues and new challenges in economic development persist. In the next stage, we must take Xi Jinping Thought on Socialism with Chinese Characteristics for a New Eraas the guideline, fully implement the guiding principles of the 20th CPC National Congress, and plenary sessions of the 20th CPC Central Committee, and adhere to the arrangements made by the Central Economic Work Conference. We should adhere to the principle of seeking progress while maintaining stability and improving quality and efficiency, implement more proactive and effective macro policies, continuously expand domestic demand and improve the supply, optimize allocation of new resources and revitalize existing assets, develop new productive forces in accordance with local conditions, and further promote the construction of a unified national market. This will promote the effective improvement of both the quality and reasonable growth of the economy and ensure a good start to the 15th Five-Year Plan.

我就介绍到这里。

That concludes my introduction.

寿小丽:

Shou Xiaoli:

谢谢康局长的介绍。下面开始提问，提问前请通报一下所在的新闻机构。

Thank you, Mr. Kang, for your introduction. Now, the floor is open for questions. Please identify the media outlet you represent before asking your question.

第一财经记者:

Yicai:

2025年是“十四五”的收官之年。请问您如何评价这一年中国经济的运行情况？谢谢。

2025 marked the final year of the 14th Five-Year Plan period. How would you evaluate China's economic performance lastyear? Thank you.

康义:

Kang Yi:

谢谢您的提问。2025年是“十四五”规划收官之年，也是中国式现代化进程中具有重要意义的一年。这一年，我国发展历程很不平凡，取得的成绩令人鼓舞，经济顶压前行、向新向优发展，主要预期目标圆满实现，“十四五”胜利收官，第二个百年奋斗目标新征程实现良好开局。对于过去一年的经济表现，在这里我想用“稳、进、新、韧”这四个字来作简要概括。

Thank you for your question. The year 2025 marked the final year of the 14th Five-Year Plan period and was a year of special importance in China's modernization drive. It was a truly remarkable year of development, with inspiring achievements. The economy forged ahead despite challenges, moving toward innovation and quality while successfully meeting all major targets. The 14th Five-Year Plan came to a successful conclusion, and a solid start was made to the new journey toward the second centenary goal. Regarding the economic performance of the past year, I would like to briefly summarize it in four words: stability, progress, innovation and resilience.

首先是“稳”的格局得到巩固。2025年的中国经济，“稳”是突出的特点。面对外部环境急剧变化，国内困难挑战增多的复杂严峻形势，我国实施更加积极有为的宏观政策，不仅有效化解外部环境变化的不利影响，更在风浪中稳住了发展的底盘、巩固了发展的根基。2025年，国内生产总值首次跃上140万亿元新台阶，比上年增长5.0%；城镇调查失业率平均值是5.2%，就业保持总体稳定；货物贸易再创新高，外汇储备余额超过3.3万亿美元。对于我国这样超大体量的经济体而言，在各种风险挑战交织的背景下，能够实现这样的稳定发展很不容易。

First, the overall pattern of stability was reinforced. Stability was a defining feature of China's economy in 2025. In the face of sharply shifting external conditions and complex domestic challenges, China implemented more proactive and effective macroeconomic policies. These measures not only mitigated the adverse effects of external changes but also secured the foundations of development amid turbulence. In 2025, China's GDP exceeded 140 trillion yuan for the first time, growing 5.0% year on year. The average urban surveyed unemployment rate stood at 5.2%, indicating overall stable employment. The goods trade reached a new high, and foreign exchange reserves surpassed $3.3 trillion. For an economy of China's massive scale, achieving such stable development amid intertwined risks and challenges was no easy feat.

第二是“进”的步伐更加有力。这一年尽管内外环境更加复杂，稳增长压力上升，但我们始终坚定不移走高质量发展道路，加快推进新旧动能转换，推动改革开放走深走实，经济呈现向优向好的发展势头。经济结构调整优化，2025年规模以上高技术制造业增加值占规模以上工业增加值比重升到了17.1%，最终消费支出对经济增长贡献率超过了5成。改革开放持续深化，全国统一大市场建设纵深推进，民营经济促进法正式施行，综合整治“内卷式”竞争成效显现。海南自由贸易港启动全岛封关运作，高水平对外开放迈出重要一步。2025年，我国货物进出口总额比上年增长3.8%。民生保障有力有效，居民人均可支配收入实际增长5.0%，与经济增长同步。养老、育幼、医疗等民生事业取得积极进展。

Second, the momentum of development progress strengthened. Despite an increasingly complex environment and rising pressure to stabilize growth this year, China remained steadfast on the path of high-quality development. We accelerated the transition from old to new growth drivers and deepened reform and opening-up, maintaining an economic momentum that improved in quality. The economic structure was optimized: value added from high-tech manufacturing above the designated size accounted for 17.1% of all large-scale industrial enterprises, and final consumption expenditure contributed more than 50% to economic growth. Reform and opening-up continued to deepen, the construction of a unified national market advanced, the private sector promotion law was officially implemented, and efforts to curb involution-style competition yielded results. The launch of island-wide special customs operations in the Hainan Free Trade Port marked a major step in high-standard opening-up. In 2025, China's total goods import and export volume increased 3.8% year on year. People's livelihoods were effectively safeguarded, with residents' per capita disposable income increasing 5.0% in real terms, keeping pace with economic growth. Positive progress was made in public welfare undertakings such as elderly care, child care and medical care.

第三是“新”的动能培育壮大。这一年，我国经济展现出“向新而行”的鲜明特征。2025年，研发经费投入强度达2.8%，比上年提高0.11个百分点，首次超过OECD国家平均水平。世界知识产权组织数据显示，我国创新指数排名首次进入全球前十。从基础研究的新探索到关键技术的新突破，从科技创新与产业创新的深度融合到惠民成果的广泛落地，我国在人工智能、量子科技、脑机接口等前沿领域捷报频传，一批重大科研成果竞相涌现，新质生产力不断发展壮大。2025年，规模以上数字产品制造业增加值比上年增长9.3%，服务器、工业机器人产量高速增长；绿电、绿能、绿色经济蓬勃发展，新能源汽车国内新车销量占比超过50%。

Third, innovation became more prominent as a driver of growth. The year was distinctly characterized by a drive toward innovation. In 2025, China's R&D intensity reached 2.8%, an increase of 0.11 percentage point from the previous year, exceeding the average level of OECD countries for the first time. According to the World Intellectual Property Organization, China's Global Innovation Index ranking broke into the top 10 for the first time. From new explorations in basic research to breakthroughs in key technologies, and from the deep integration of technological and industrial innovation to the widespread application of innovations benefiting the people, China delivered frequent successes in cutting-edge fields such as AI, quantum technology, and brain-computer interfaces. A number of major scientific research achievements emerged, and new quality productive forces continued to grow. In 2025, the value added of digital product manufacturing above the designated size increased 9.3% year on year, with rapid growth in output of servers and industrial robots. Green electricity, green energy and the green economy flourished, with new energy vehicles exceeding 50% of domestic new car sales.

第四是“韧”的特性愈发凸显。这一年，世界经贸秩序遭受重创，国内新旧动能转换存在阵痛，在这样的情况下，我国经济仍然实现了“量的跨越”与“质的提升”，充分展现了中国经济在不稳定不确定环境下应变破局的能力和抗压耐压的韧性。放眼全球，我国经济增速在主要经济体中名列前茅，是全球经济增长最稳定、最可靠的动力源，对世界经济增长的贡献率预计达到30%左右。稳外贸多样化格局加速形成，目前我国已成为150多个国家和地区的主要贸易伙伴，高技术、高附加值产品成为出口增长主力，外贸展现强大韧性。2025年高技术产品出口额比上年增长13.2%。

Fourth, the resilience of the economy became more evident. Amid a severely disrupted global trade order and domestic growing pains from shifting growth drivers, China's economy still achieved both quantitative and qualitative gains, fully demonstrating its capacity to navigate challenges and withstand pressure in an unstable and uncertain environment. Globally, China's economic growth rate ranked among the highest of major economies, making it the most stable and reliable engine for global economic growth, with its contribution expected to reach around 30%. A more diversified pattern for stabilizing foreign trade rapidly took shape. China became a major trading partner of more than 150 countries and regions, with high-tech and high-value-added products becoming the main drivers of export growth, demonstrating the strong resilience of foreign trade. The export value of high-tech products increased 13.2% in 2025 compared with the previous year.

以上四个方面的表现，是中国经济基础稳、优势多、韧性强、潜能大的真实写照，是全国人民踔厉奋发、砥砺前行的结果，极大增强了我们发展的底气和信心。当然，我们也要清醒地认识到，经济发展中的老问题、新挑战仍然不少，外部环境变化影响加深，国内供强需弱的矛盾突出，重点领域风险隐患较多，我们要直面问题，正视挑战，扎扎实实办好自己的事，着力稳就业、稳企业、稳市场、稳预期，着力增强发展的内生动力，实现质的有效提升和量的合理增长，推动中国经济破浪前行、行稳致远。谢谢！

The above four aspects reflect China's solid economic foundation, numerous advantages, strong resilience and great potential. They are the result of the hard work and relentless efforts of the Chinese people, greatly enhancing our confidence for future development. Of course, we must also be clearly aware that there are still many long-standing issues and new challenges in economic development. The impact of external changes is deepening, the domestic imbalance between strong supply and weak demand remains prominent, and many risk factors persist in key areas. We must face problems and challenges head-on, diligently focus on our own work, strive to stabilize employment, enterprises, markets and expectations, and strengthen the internal driving force of development. This will enable us to achieve effective quality improvement and reasonable quantitative growth, steering the Chinese economy steadily forward through waves and on a long-term trajectory.

Thank you.

中央广播电视总台央视记者:

CCTV:

“十四五”以来，我国经济总量大踏步跨上110万亿、120万亿、130万亿、140万亿元的台阶，请问如何看待这一发展势头？谢谢。

Since the beginning of the 14th Five-Year Plan, China's total economic output has made great strides, successively surpassing the 110 trillion, 120 trillion, 130 trillion and 140 trillion yuan thresholds. How do you view this development trend? Thank you.

康义:

Kang Yi:

谢谢您的提问。“十四五”时期，我国经济直面多重超预期因素冲击，有效应对一系列重大风险挑战，一路爬坡过坎，成长壮大，经济总量连上新台阶，2025年达到了140万亿元，这是一个相当了不起的成绩，充分展现了中国经济稳中有进的态势、顶压前行的韧性、向新向优的活力。这意味着什么，有这么几个方面：

Thank you for your question. During the 14th Five-Year Plan period, China's economy faced multiple unexpected shocks and effectively responded to a series of major risks and challenges. It overcame numerous obstacles and grew stronger, with total economic output reaching new heights. In 2025, it reached 140 trillion yuan, a remarkable achievement. This fully demonstrates China's steady economic progress, resilience under pressure, and vitality in pursuing innovation and excellence. What does this signify? Several key points can be highlighted:

首先，这意味着我国经济底盘更实、抗风险能力更强。“十四五”时期，我国经济总量实现“四连跳”，先后迈上了110万亿、120万亿、130万亿、140万亿元的新台阶。这样大的经济体量，对应的是实打实的生产力，我国粮食产量已经连续两年站稳在1.4万亿斤的台阶，制造业增加值连续16年稳居世界首位，服务业增加值占GDP比重也提高到57.7%，网络基础设施是全球最大、覆盖最广，这些都是我们抵御风险、行稳致远的坚实基础和强大支撑。

First, it signifies that China's economy has a more solid foundation and greater resilience to risk. During the 14th Five-Year Plan period, China's total economic output successively surpassed the 110 trillion yuan, 120 trillion yuan, 130 trillion yuan and 140 trillion yuan thresholds. Such a large economic scale corresponds to substantial productivity. China's grain output has remained above 1.4 trillion jin (700 million tonnes) for two consecutive years. The value added of the manufacturing industry has ranked first in the world for 16 consecutive years. The share of the service sector's value added in GDP has increased to 57.7%. Furthermore, China's network infrastructure is the largest and most extensive in the world. All these constitute a solid foundation and strong support for resisting risks and achieving steady, long-term development.

第二，这也意味着我国高质量发展的成色更足、步伐更稳。我国经济总量能够接连跨越，离不开高质量发展的有力支撑。140万亿元的经济体量，是践行新发展理念结出的丰硕成果。五年来，我国新质生产力稳步成长，创新指数排名首次晋升全球前十，规模以上高技术制造业增加值年均增长9.2%，人工智能、5G等数字技术蓬勃兴起，赋能千行百业；能源供应清洁化、低碳化加速，新能源产品市场竞争力不断增强；民生保障有力，居民收入增长与经济增长同步。这些成就既印证了我国高质量发展的路径正确、成效显著，更积蓄了未来发展的强大动能。

Second, it signifies greater substance and steadier momentum in China's high-quality development. The successive expansion of China's economic aggregate is underpinned by the strong support of high-quality development. An economy of 140 trillion yuan is the fruitful result of putting the new development philosophy into practice. Over the past five years, new quality productive forces steadily grew, China's innovation index ranking entered the top 10 worldwide for the first time, and the value added of high-tech manufacturing above the designated size grew at an average annual rate of 9.2%. Digital technologies such as AI and 5G flourished, empowering countless industries. The transition to cleaner, low-carbon energy accelerated, and the market competitiveness of new energy products continued to increase. People's livelihoods were effectively guaranteed, with residents' income growth keeping pace with economic growth. These achievements have not only demonstrated the correctness and effectiveness of China's high-quality development path but also accumulated strong momentum for future development.

第三，这也意味着我国为世界经济提供了稳定的支撑和更广的合作空间。整个“十四五”时期，中国对世界经济增长的年均贡献率达到30%左右，凭借完备的产业体系为全球供应链压舱护航，为动荡变革的世界经济注入宝贵的稳定性。更重要的是，中国始终是全球发展的重要机遇，2025年货物进口规模再创新高，达到18.5万亿元，为各国提供了广阔的市场空间；外资准入负面清单也在不断缩减，免签的“朋友圈”继续扩大，入境政策进一步优化，极大地便利了人员往来和经贸合作。中国以实实在在的行动为世界各国拓展了合作机遇。

Third, it also signifies that China has provided stable support for the world economy while creating broader opportunities for cooperation. Throughout the 14th Five-Year Plan period, China's average annual contribution to global economic growth reached about 30%. Its complete industrial system served as a ballast for the global supply chain, providing valuable stability amid a turbulent, changing world economy. More importantly, China continues to represent a major source of opportunity for global development. In 2025, China's goods imports reached a new high of 18.5 trillion yuan, providing a vast market space for all countries. The negative list for foreign investment access continues to shrink, the "circle of friends" for visa-free travel continues to expand, and entry policies are being further optimized, greatly facilitating personnel exchanges and economic and trade cooperation. China has taken concrete actions to expand cooperation opportunities for countries worldwide.

谢谢！

Thank you.

彭博新闻社记者:

Bloomberg:

2025年中国经济表现较好，在此基础上保持2026年第一季度经济增长率持续向好是否具有挑战？中国将会采取什么措施来应对挑战，尤其是在消费和投资方面？第二，能否提供2025年第四季度和全年内最终消费、净出口和资本形成总额分别对GDP增长贡献的有关数据？

We're wondering how big of a challenge will it be to ensure economic growth gets off to a good start in the first quarter of this year, given a high base of comparison from 2025? And what is China doing to counter the challenge, especially in consumption and investments? And we're also wondering if you could provide the breakdown of GDP growth contribution from final contribution, and net export and growth capital formation in the fourth quarter and for the full year. Thank you.

康义:

Kang Yi:

谢谢您的提问。这是两个问题，首先我回答第一个问题。

Thank you for your questions. You've asked two questions. Let me start with the first one.

2025年我国经济顶压前行、向新向优发展，主要的预期目标圆满实现，展现了强大韧性和活力，为今年经济发展奠定了良好的基础。从近期情况看，生产、价格、预期等都出现了积极变化，经济稳中有进的态势持续。2025年12月份，规模以上工业增加值、服务业生产指数同比增速均比上月有所加快；CPI上涨0.8%，是2023年3月份以来最高涨幅，核心CPI连续4个月涨幅在1%以上。PPI同比降幅收窄，环比连续3个月上涨；制造业PMI和非制造业商务活动指数双双重回到扩张区间。从政策支撑看，国务院常务会议部署实施财政金融协同促内需的一揽子政策，有关部门加快贯彻落实，推进扩大内需。“两新”政策不断优化，首批资金已经提前下达，这些都为今年经济起步创造了有利条件。

In 2025, China's economy forged ahead despite headwinds, shifting toward high-quality and innovation-driven development. All major expected targets were achieved, demonstrating strong resilience and vitality and laying a solid foundation for this year's economic development. Recent indicators show positive changes in production, prices and expectations, with the economy maintaining steady, positive momentum. In December 2025, the year-on-year growth rates of the value-added of industrial enterprises above designated size and the Index of Services Production both accelerated compared to the previous month. The CPI rose 0.8%, the highest increase since March 2023, and core CPI rose more than 1% for four consecutive months. The year-on-year decline in PPI narrowed, while month-on-month increases continued for three consecutive months. Both the manufacturing PMI and the non-manufacturing business activity index returned to expansion territory. In terms of policy support, the State Council executive meeting deployed a package of coordinated fiscal and financial policies to promote domestic demand, and relevant departments are accelerating implementation to expand it further. The policies aimed at promoting large-scale equipment upgrades and trade-ins of consumer goods have been further refined, with the first tranche of funding allocated ahead of schedule, creating favorable conditions for a solid economic start this year.

我们看中国经济，要全面、辩证、长远地看，既要看当前之形，更要看长远之势；既看季度变化，更看全年走势；既看总量规模，更看发展质量。从2026年全年看，我国经济长期向好的支撑条件和基本趋势没有改变，经济高质量发展大势没有改变，有基础有条件保持经济稳定向好运行。

When looking at China's economy, we need to take a comprehensive, dialectical, and long-term view. We should look not only at the current situation but also at long-term trends; not only at quarterly changes but also at annual trends; not only at the aggregate scale but also at the quality of development. Looking at 2026 as a whole, the supporting conditions and fundamental trends underpinning China's long-term economic growth remain unchanged, as does the momentum toward high-quality economic development. The foundations and conditions are in place to maintain stable, positive economic performance.

关于第二个问题，2025年，最终消费支出、资本形成总额、货物和服务净出口对经济增长的贡献率分别是52.0%、15.3%、32.7%；第四季度，最终消费支出资本形成总额、货物和服务净出口对经济增长的贡献率分别是52.9%、16.0%、31.1%。谢谢！

Regarding the second question, in 2025, the contribution rates of final consumption expenditure, gross capital formation, and net exports of goods and services to economic growth were 52%, 15.3% and 32.7%, respectively. In the fourth quarter, the respective rates were 52.9%, 16% and 31.1%.

Thank you.

深圳卫视直新闻记者:

Zhinews of Shenzhen Satellite TV:

2025年我国很多地方积极开展创新实践，大力发展新质生产力。请问，新质生产力给经济发展带来哪些新的亮点和变化？谢谢。

In 2025, many regions across China actively pursued innovative practices and fostered new quality productive forces. What new highlights and changes have new quality productive forces brought to economic development? Thank you.

康义:

Kang Yi:

谢谢您的提问。2025年，我国在创新驱动、产业提质、数字赋能、绿色转型等方面都取得了不少新进展，新质生产力从理念共识转化成了发展实效，不仅让经济增长更具质量、更有后劲，更印证了中国经济在复杂环境中主动求变、向新突破的坚定决心与有力行动。关于新质生产力，我用四个“力”来概括。

Thank you for your question. In 2025, China made considerable progress in innovation-driven development, industrial upgrading, digital empowerment and green transformation. New quality productive forces evolved from conceptual consensus into tangible development results, enhancing both the quality and sustainability of economic growth, and underscoring China’s firm resolve and concrete actions to proactively adapt and pursue new breakthroughs amid a complex external environment. Regarding new quality productive forces, I would summarize them with four key strengths.

一是科技硬实力不断跃升。2025年，全社会研究与试验发展经费投入达到39262亿元，已经多年稳居世界第二位。我国成为世界上首个国内有效发明专利拥有量超500万件的国家，PCT国际专利申请量连续6年位居全球第一，关键核心技术领域的高价值专利储备不断加强。大国重器捷报频传，原创性、颠覆性创新成果大量涌现，“九天”无人机首飞成功，天问二号开启“追星”之旅，首艘电磁弹射型航母正式入列，CR450动车组刷新“中国速度”，这些表现表明我国迈向高水平科技自立自强的步伐坚实有力。

First, our technological strength continued to improve. In 2025, China's total R&D expenditure reached 3.9262 trillion yuan, ranking second in the world for many years. China became the first country to reach more than 5 million valid domestic invention patents and has ranked first globally in PCT international patent applications for six consecutive years. High-value patent reserves in key core technology fields have been continuously strengthened. Major national projects delivered frequent breakthroughs, with numerous original and disruptive innovative results emerging. The Jiutian unmanned aerial vehicle completed its maiden flight, Tianwen-2 embarked on its asteroid exploration mission, the first electromagnetic catapult-type aircraft carrier was officially commissioned, and the CR450 high-speed train set a new "China Speed." These achievements demonstrate that China is taking solid, powerful steps toward high-level scientific and technological self-reliance.

二是产业向新力积聚成势。高端装备、绿色能源、智能制造等新兴领域持续投资扩产，科技创新和产业创新融合发展成果厚积薄发。2025年，规模以上装备制造业、高技术制造业增加值占规模以上工业增加值的比重分别达到36.8%和17.1%。低空经济“振翅高飞”，具身智能“敏思巧行”，民用无人机、工业机器人产量分别比上年增长37.3%、28%。智能制造工程扎实推进，智能工厂数量稳步增加，工业互联网融合应用全面覆盖41个工业大类行业。

Second, industries built momentum toward new strengths. Investment and production expansion continue in emerging fields such as high-end equipment, green energy and intelligent manufacturing, and the integration of technological and industrial innovation is bearing fruit. In 2025, equipment manufacturing and high-tech manufacturing enterprises above designated size accounted for 36.8% and 17.1% of total industrial value added, respectively. The low-altitude economy is taking flight, and embodied intelligence is enabling smart and efficient operations. The output of civilian drones and industrial robots increased 37.3% and 28%, respectively, compared to 2024. Intelligent manufacturing projects advanced steadily, the number of intelligent factories continued to rise, and the integrated application of the industrial internet achieved full coverage across all 41 major industrial sectors.

三是数字渗透力明显增强。数字产业、数字消费、数字基础设施全域拓展，融入了千行百业的生产经营，也融入了千家万户的日常生活。2025年，规模以上数字产品制造业增加值比上年增长9.3%，信息传输、软件和信息技术服务业增加值增长11.1%。人工智能成为更多人工作生活中的好伙伴、好帮手，实实在在为大家的日常生活增添了便利。消费新模式、新场景加快拓展，带动网上零售额增长8.6%。5G、千兆光网、物联网等新型基础设施建设有序推进。

Third, digital penetration significantly increased. The digital industry, digital consumption and digital infrastructure have expanded across all domains, integrating into production and operations across countless industries and into the daily lives of millions of households. In 2025, the value added of digital product manufacturing enterprises above designated size increased 9.3% year on year, and the value added of information transmission, software and information technology services grew 11.1%. AI has become a trusted partner and helper for more people in their work and daily lives, genuinely adding convenience to everyday life. New consumption models and scenarios expanded rapidly, driving online retail sales growth of 8.6%. Construction of new infrastructure, such as 5G, gigabit optical networks, and the Internet of Things, progressed in an orderly manner.

四是绿色引领力全面彰显。我国加快构建清洁低碳、安全高效的新型能源体系，2025年，规模以上工业水电、核电、风电、太阳能等清洁能源发电量比上年增长8.8%，非化石能源占能源消费总量的比重比上年提高约2个百分点，绿色能源设备、绿色材料等产品产量都实现了较快增长。新能源产业竞争力不断提升，新能源汽车年产销量均突破1600万辆，绿色生产生活方式更加普及。传统产业绿色转型也取得了明显成效，2025年规模以上建材、钢铁、有色等主要耗能行业单位增加值能耗都比上年有明显的下降。谢谢！

Fourth, green leadership was fully demonstrated. China accelerated the construction of a clean, low-carbon, safe and efficient new energy system. In 2025, clean energy power generation — including hydropower, nuclear, wind and solar — by industrial enterprises above designated size increased 8.8% year on year. The share of non-fossil energy in total energy consumption rose about 2 percentage points year on year, and the output of green energy equipment, green materials and other products achieved rapid growth. The competitiveness of the new energy industry continued to improve, with annual production and sales of new energy vehicles both exceeding 16 million units, and green production and lifestyles becoming more widespread. The green transformation of traditional industries also achieved notable results. In 2025, enterprises above designated size in major energy-intensive industries, including building materials, steel, and non-ferrous metals, significantly reduced energy consumption per unit of value added compared to the previous year.

Thank you.

CNBC记者:

CNBC:

请问服务业消费在过去一年有什么亮点？在四季度和商品零售占比整体消费比例有何变化？谢谢。

What were the highlights of service consumption in the past year? How did the share of service consumption change relative to goods retail in overall consumption in the fourth quarter? Thank you.

康义:

Kang Yi:

谢谢您的提问。服务消费确实是2025年经济运行中的重要亮点。大家也都非常关心消费的情况，借这个机会，我简单跟大家介绍一下有关消费统计指标的情况。

Thank you for your questions. Service consumption was indeed a significant highlight of economic performance in 2025. Given the widespread interest in consumption trends, I'd like to take this opportunity to briefly introduce some relevant statistics.

从消费类型看，主要有两类消费，一类是商品消费，另一类是服务消费。相应的常用统计指标，一个是反映商品消费为主的社会消费品零售总额，另一个是反映服务消费的服务零售额。这两个统计指标都是从企业销售端，也就是供给端统计的。另外，还有从需求端反映消费的统计指标，比如住户调查中的居民人均消费支出，是从居民家庭收支中进行统计的。在这里简要跟大家介绍关于消费的统计指标。我们看消费，要多角度来看，一般来讲社会消费品零售总额使用比较多一点，现在服务消费也是应该重视关注的一个指标。这位记者朋友提的这个问题非常好。

In terms of consumption type, there are two main categories: goods consumption and services consumption. The corresponding key statistical indicators are total retail sales of consumer goods, which primarily reflect goods consumption, and total retail sales of services, which track services consumption. Both indicators are collected from the enterprise sales side, that is, the supply side. In addition, there are statistical indicators that reflect consumption from the demand side, such as per capita consumption expenditure. This metric is derived from household surveys on income and expenditure. I'll briefly introduce some statistical indicators related to consumption. When it comes to consumption, we need to consider it from multiple perspectives. Generally speaking, total retail sales of consumer goods are used more frequently, but service consumption is now an indicator that also deserves greater attention. This question is very important.

从消费情况看，2025年我国持续发力扩大内需，随着提振消费专项行动落地见效，消费市场规模稳步扩大，结构持续优化，新的消费热点不断涌现。

In terms of consumption, China continued to expand domestic demand in 2025. With the implementation of special actions to boost consumption taking effect, the consumer market steadily expanded, its structure continued to optimize, and new consumption hotspots continued to emerge.

一是消费压舱石作用凸显。全年社会消费品零售总额突破50万亿，比上年增长3.7%，比2024年加快0.2个百分点，规模居全球零售市场前列。刚才这位记者朋友讲到了服务消费，服务零售额比上年增长5.5%，尤其近几个月以来增速在逐月加快，最终消费支出对经济增长的贡献率是52%，超过了一半，比上年的贡献率提高了5个百分点，是经济增长的主动力和稳定锚。

First, the role of consumption as a cornerstone became increasingly prominent. Total retail sales of consumer goods for the whole year exceeded 50 trillion yuan, an increase of 3.7% over the previous year, 0.2 percentage point faster than in 2024, ranking among the top in global retail markets. As the reporter just mentioned, service retail sales grew by 5.5% year on year. In recent months, the growth rate has accelerated month by month. The contribution of final consumption expenditure to economic growth was 52%, more than half, and 5 percentage points higher than the previous year. Consumption was the main driving force and stabilizing anchor of economic growth.

二是服务消费活力释放。随着人民生活水平提升，居民消费正从商品消费为主向商品和服务消费并重转变，服务消费潜力不断释放。从企业销售看，2025年服务零售额比上年增长5.5%，快于商品零售额1.7个百分点。服务零售额占整体零售额的比重在上升。记者提了四季度占比情况，也是提升的，服务零售占整个零售的比重都是提升的，也呈现这个特点。从居民消费看，2025年服务性消费支出占居民人均消费支出的比重是46.1%。各地也在持续创新消费场景，优化消费环境，文化、旅游、娱乐、赛事等细分领域多点开花。2025年，旅游咨询租赁服务、交通出行服务、文体休闲服务类零售额都保持两位数以上增长，国内电影总票房比上年增长超20%。

Second, the vitality of service consumption was unleashed. As living standards improve, residents' consumption is shifting from being primarily focused on goods to emphasizing both goods and services, with the potential of service consumption being continuously unleashed. In terms of enterprise sales, service retail sales in 2025 grew 5.5% over the previous year, 1.7 percentage points faster than retail sales of consumer goods. The share of services in total retail sales rose. As the reporter mentioned, the fourth-quarter share also rose. Service retail's share of total retail increased across the board, reflecting this trend. In terms of household consumption, per capita spending on services accounted for 46.1% of per capita consumption expenditure in 2025. Consumption scenarios continued to be innovated, and consumption environments were optimized. Sectors such as culture, tourism, entertainment and sports events achieved breakthroughs across the country. In 2025, retail sales of tourism consulting and rental services, transportation services, and cultural and sports leisure services all maintained double-digit growth, and total domestic box office revenue increased by more than 20% over the previous year.

三是新型消费方兴未艾。电子商务、直播带货、在线文娱等带动线上消费较快增长。2025年，网上零售额比上年增长8.6%，其中实物商品网上零售额增长5.2%，占社会消费品零售总额的比重是26.1%。无人值守店、仓储会员店等新零售模式零售额保持两位数增长。绿色消费也在稳步成长，新能源汽车产销量也是连续11年位居全球第一。人工智能等数字化技术深度融入消费场景，有力驱动了信息消费提质扩容。2025年通讯信息服务类零售额比上年增长超过10%。同时，银发经济、冰雪经济、首发经济等都在持续升温，日益成为新的消费增长点。

Third, new types of consumption flourished. E-commerce, livestreaming marketing, and online entertainment drove rapid growth in online consumption. In 2025, online retail sales increased 8.6% year on year, with online retail sales of physical goods up 5.2%, accounting for 26.1% of total retail sales of consumer goods. New retail models, such as unmanned stores and warehouse membership stores, maintained double-digit retail sales growth. Green consumption also grew steadily, and production and sales of new energy vehicles ranked first in the world for 11 consecutive years. Digital technologies such as AI have become deeply integrated into consumption scenarios, effectively driving the improvement and expansion of information consumption. In 2025, retail sales of communication information services grew more than 10% year on year. Meanwhile, the silver economy, the ice and snow economy, and the debut economy continued to heat up, increasingly becoming new drivers of consumption growth.

四是商品消费继续增加。2025年，商品零售额比上年增长3.8%，比上年加快0.6个百分点。粮油食品等基本生活类消费较快增长，体育娱乐用品、通讯器材等升级类商品消费增势良好。我国加力扩围实施消费品以旧换新政策，以真金白银推动高质量耐用消费品进入居民日常生活。2025年，限额以上单位文化办公用品类、家具类、家用电器和音像器材类商品零售额比上年分别增长17.3%、14.6%、11%，都实现两位数这样一个较快的增长。

Fourth, commodity consumption continued to grow. In 2025, retail sales of goods increased 3.8% year on year, 0.6 percentage point faster than the previous year. Sales of basic necessities such as grain, oil and food grew relatively rapidly, while sales of discretionary goods such as sports and entertainment products and communication equipment showed strong momentum. The scope and scale of consumer goods trade-in programs were expanded, using tangible financial incentives to bring high-quality durable consumer goods into people's daily lives. In 2025, retail sales of cultural and office supplies by enterprises above designated size climbed 17.3% over the previous year, furniture grew 14.6%, and household appliances and audiovisual equipment rose 11%, all achieving double-digit growth.

展望2026年，尽管面临压力和挑战，但支撑消费继续增长的积极因素仍然较多，消费市场有望平稳增长。有以下几个条件：一是消费升级蕴含着巨大潜力。我国有14亿多人口，有庞大的中等收入群体，是具有全球影响力的超大规模市场。当前，居民消费向优转变，个性化、多样化、品质化的消费偏好日益凸显，这里面就蕴藏着巨大潜力。二是促消费政策继续显效。今年将深入实施提振消费专项行动，制定实施城乡居民增收计划。2026年以旧换新政策继续实施，并且在不断优化，第一批625亿元超长期特别国债资金已提前下达，清理消费领域不合理限制措施逐步推进，政策落地将对消费增长形成支撑。三是消费环境发展向好。全国统一大市场建设有利于持续优化消费环境，新技术、新科技应用将会增加更多的高品质消费供给，沉浸式、体验式消费场景也在不断培育，消费者权益保护持续加强，这些都有助于释放更大的消费潜力。谢谢！

Looking ahead to 2026, despite pressures and challenges, many positive factors still support continued consumption growth, and the consumer market is expected to grow steadily. Several conditions support this: First, consumption upgrading holds huge potential. China has a population of over 1.4 billion and a large middle-income group, making it a super-large market with global influence. Currently, residents are increasingly prioritizing quality, with growing demand for personalized, diversified and premium products, which holds enormous potential. Second, policies to boost consumption continue to take effect. This year, we will thoroughly implement the special campaign to boost consumption and formulate and implement plans to increase urban and rural residents' incomes. The trade-in policy will continue in 2026 and is being continuously optimized. The first batch of 62.5 billion yuan in ultra-long-term special treasury bonds has been allocated in advance, and the removal of unreasonable restrictions in the consumption sector is being gradually advanced. These policies will support consumption growth. Third, the consumption environment is improving. The construction of a unified national market is helping to continuously optimize the consumption environment. Meanwhile, the application of new technologies and innovations will increase the supply of high-quality consumption. Immersive and experiential consumption scenarios are also being cultivated. Consumer rights protections are being continuously strengthened. All of these factors will help unleash greater consumption potential.Thank you.

北京青年报记者:

Beijing Youth Daily:

现在全球经济情况属于增长动能不足与结构性变革交织，在这样的情况下，如何看待2026年全年中国经济走势？谢谢。

The current global economic situation is characterized by insufficient growth momentum intertwined with structural transformation. Under these circumstances, how should we view the trajectory of China's economy in 2026? Thank you.

康义:

Kang Yi:

谢谢您的提问。2026年是“十五五”开局之年，我国发展站在了新起点上。尽管外部环境变化影响加深，国内稳定发展面临挑战，但我国经济基础稳、优势多、韧性强、潜能大，长期向好的支撑条件和基本趋势没有改变，总体来看，机遇大于挑战，有利条件强于不利因素，2026年我国经济稳中向好有条件、有支撑。

Thank you for your question. The year 2026 marks the beginning of the 15th Five-Year Plan, and China's development has reached a new starting point. Despite the deepening impact of external changes and challenges to domestic stability and development, China's economy has a solid foundation, many advantages, strong resilience, and great potential. The long-term supportive conditions and fundamental trend of positive development remain unchanged. Overall, the opportunities outweigh the challenges, and favorable factors outnumber unfavorable ones. China's economy has both the conditions and support to achieve stable, positive growth in 2026.

从发展基础来看，“十四五”我国推动高质量发展取得扎实成效。我国经济实力、科技实力、综合国力都跃上了新台阶，五年经济增量超过了36万亿元，研发经费投入强度提高了0.44个百分点，发展家底更加殷实、发展空间更加广阔，为“十五五”厚植了优势、积攒了底气。中国经济长期稳定发展是制度优势、市场优势、产业体系优势、人才资源优势等多种因素协同联动、系统集成形成强大合力的结果，这是一个大的逻辑，也是一个大的趋势。

In terms of development foundations, China achieved solid results in high-quality development during the 14th Five-Year Plan period. China's economic, scientific and technological strength, and overall national strength all reached new heights. Economic output grew by more than 36 trillion yuan over the past five years, and R&D investment intensity rose 0.44 percentage point. With stronger foundations and broader development space, China enters the 15th Five-Year Plan period with clear advantages and confidence. The long-term stable development of China's economy results from multiple factors working in synergy. These include institutional advantages, market strengths, a complete industrial system, and human resource advantages. This is both an overarching logic and a major underlying trend.

从发展态势来看，2025年经济运行稳中有进为向好发展创造了有利条件。2025年我国经济顶压前行，在外部不利影响加深的背景下实现了5.0%的增长，是韧性和活力的体现。9月份以来，核心CPI同比涨幅连续4个月在1%以上，12月份制造业采购经理指数重回扩张区间，人流、物流、信息流都保持着较快的增长态势，推动经济稳中向好的积极因素在不断积累。

In terms of development momentum, steady economic progress in 2025 has created favorable conditions for further development. In 2025, China's economy forged ahead despite pressures, achieving 5.0% growth amid deepening adverse external influences, demonstrating its resilience and vitality. Since September, core CPI has risen more than 1% year on year for four consecutive months. In December, the manufacturing PMI returned to expansion territory. The flow of people, goods and information maintained relatively rapid growth. Moreover, positive factors driving steady, positive economic development are accumulating.

从发展动能来看，新质生产力的培育和改革的红利效应也在持续显现。我们处在新旧动能转换的攻坚期，一些传统行业和领域的增速确实是在放缓，但是新兴动能在积厚成势，有利于对冲下行压力，增强上行动力。比如国产人工智能大模型快速发展、人工智能技术广泛应用、数字经济引领新质生产力大踏步发展。2025年，规模以上数字产品制造业增加值比上年增长9.3%，平均每天有4.5万辆新能源汽车下线，超过5亿件快递包裹寄送，人形机器人从登上春晚舞台，到亮相机器人运动会，再到“成建制”进入工厂，这些都在积厚成势。同时，我国纵深推进全国统一大市场建设，推动全社会物流成本持续下降，出台民营经济促进法，一批条件成熟、可感可及的改革举措加快推出，将进一步激发经济动力活力。

In terms of development momentum, the cultivation of new quality productive forces and the positive effects of reform continue to emerge. We are in a critical period of transitioning from old to new growth drivers. While the growth rate of some traditional industries and sectors is indeed slowing, emerging drivers are accumulating momentum, helping to offset downward pressure and boost upward momentum. For example, domestic large AI models are developing rapidly, AI technology is being widely applied, and the digital economy is driving rapid advancement in new quality productive forces. In 2025, the value added of digital product manufacturing enterprises above designated size increased 9.3% year on year. An average of 45,000 new energy vehicles rolled off production lines every day, and more than 500 million express parcels were delivered. Humanoid robots went from appearing on the Spring Festival Gala stage to showcasing at the World Humanoid Robot Games, and then to entering factories in an organized fashion. All of these developments are accumulating momentum. Meanwhile, China is advancing the construction of a unified national market, driving down logistics costs across society, and enacting the private sector promotion law. Many well-developed, concrete reform measures are being rolled out, which will further stimulate economic dynamism and vitality.

从发展支撑来看，更加积极有为的宏观政策将为经济平稳运行保驾护航。2025年我国经济能够在复杂环境中保持平稳增长，更加积极有为的宏观政策发挥了重要作用。从“两重”“两新”政策加力扩围，到《稳就业稳经济推动高质量发展的若干举措》出台，再到综合整治“内卷式”竞争等，扩需求、优供给、稳经济作用得到有效发挥。2025年社会消费品零售总额增速比上年加快0.2个百分点，工业增加值增速加快0.3个百分点。2025年，中央经济工作会议明确提出，要坚持稳中求进、提质增效，发挥存量政策和增量政策集成效应，加大逆周期和跨周期调节力度。2026年是“十五五”开局之年，各方面将瞄准目标，狠抓重点工程项目落地实施，有助于形成推动发展的强大合力。

In terms of development support, more proactive and effective macroeconomic policies will safeguard stable economic operations. The fact that China's economy maintained steady growth in a complex environment in 2025 was largely due to the important role these policies played. The "two major" initiatives (major national strategies and the enhancement of security capacity in key areas) and "two new" initiatives (large-scale equipment renewals and trade-in of consumer goods) were expanded and strengthened. The Policies and Measures on Stabilizing Employment, Ensuring Stable Growth and Promoting High-quality Development were introduced, and comprehensive efforts were made to curb involution-style competition. These actions effectively expanded demand, optimized supply and stabilized the economy. In 2025, total retail sales of consumer goods grew 0.2 percentage point faster than the previous year, and industrial value added grew 0.3 percentage point faster. In 2025, the Central Economic Work Conference clearly stated that China should adhere to the principle of seeking progress while maintaining stability and improving quality and efficiency, give full play to the combined effect of existing and new policies, and strengthen counter-cyclical and cross-cyclical adjustments. The year 2026 marks the start of the 15th Five-Year Plan. All sectors will focus on key objectives and vigorously advance major projects, helping generate powerful momentum for development.

近期，主要国际组织相继上调了对中国经济增长的预期，也表明国际社会对我国经济发展的前景看好。中国经济是一片大海，不是一个小池塘，能够经受住风吹浪打甚至狂风骤雨的考验。大家回过头来想想，我们看看这些年，中国经济面对的挑战应该说是从未缺席，但机遇始终相伴。我们要坚定信心、保持定力，凝聚共识、修炼内功，强化创新驱动，深化改革开放，持续做强国内大循环，推动经济实现质的有效提升和量的合理增长，力促“十五五”开好局、起好步。谢谢！

Recently, major international organizations have raised their forecasts for China's economic growth, indicating that the international community is optimistic about China's economic prospects. The Chinese economy is a vast ocean, not a small pond, capable of withstanding wind and waves, even violent storms. Looking back over the years, challenges facing the Chinese economy have never been absent, but opportunities have always accompanied them. We must strengthen our confidence and resolve, build consensus and improve our internal capabilities, enhance innovation-driven development, and deepen reform and opening-up. We must continuously strengthen the domestic economic cycle, promote effective qualitative improvement and reasonable quantitative growth, and strive to get the 15th Five-Year Plan off to a good start.

Thank you.

大象新闻记者:

Elephant News:

我们想问的是，关于工业生产的问题。请问，2025年我国规模以上工业生产情况如何？有哪些主要特点？另外，如何判断接下来2026年我国工业生产发展态势？谢谢。

We would like to ask about industrial production. How did industrial enterprises above designated size perform in 2025? What were the main characteristics? In addition, how do you assess the outlook for China's industrial production in 2026? Thank you.

康义:

Kang Yi:

这个问题请付凌晖先生回答。

I'd like to invite Mr. Fu Linghui to answer these questions.

国家统计局新闻发言人、总经济师、国民经济综合统计司司长付凌晖:

Fu Linghui:

我来回答一下关于工业生产的有关情况。工业是实体经济的重要组成部分，也是经济稳定运行的“压舱石”。2025年，工业生产呈现出增长较快、结构向优、动能向新的特点，为经济稳定运行发挥了重要的支撑作用。从主要的特点看，有以下几个方面：

I'll answer your questions about industrial production. Industry is an important component of the real economy and a ballast for stable economic operations. In 2025, industrial production was characterized by rapid growth, structural optimization and new momentum, playing an important supporting role in stabilizing economic operations. The main characteristics are as follows:

一是工业实力发展壮大。2025年，我国工业增加值达到41.7万亿元，比上年增长5.8%，增速比上年加快0.3个百分点，对经济增长的贡献率达到35%，比上年提高1.8个百分点。作为工业经济的主体，制造业产出规模持续扩大。2025年制造业增加值34.7万亿元，比上年增长6.1%，占GDP的比重稳定在25%左右，制造业规模有望连续16年保持全球第一，门类体系完整的优势更加明显。

First, industrial strength expanded. In 2025, China's industrial value added reached 41.7 trillion yuan, an increase of 5.8% over the previous year, with the growth rate accelerating by 0.3 percentage point. Its contribution to economic growth reached 35%, an increase of 1.8 percentage points over the previous year. As the mainstay of the industrial economy, manufacturing output continued to expand. In 2025, manufacturing value added reached 34.7 trillion yuan, an increase of 6.1% over the previous year, with its share of GDP remaining stable at around 25%. China's manufacturing sector is expected to have remained the world's largest for 16 consecutive years, with the advantages of a complete industrial system becoming more apparent.

二是工业结构向优升级。制造业高端化、智能化、绿色化发展态势更加明显，全年规模以上装备制造业、高技术制造业增加值比上年分别增长9.2%和9.4%，占规模以上工业比重分别提升到36.8%和17.1%。动车组、工业机器人、服务器等新产品产量都保持较快增长，产业含“绿”量也在提升，新能源汽车产量突破1600万辆，产销量连续11年保持全球第一，风力发电机组、生物基化学纤维等绿色产品增速都保持高速增长。

Second, China's industrial structure was upgraded. The trend of high-end, intelligent and green development in the manufacturing industry became more pronounced. The value added of equipment manufacturing and high-tech manufacturing enterprises above designated size increased 9.2% and 9.4% respectively year on year, accounting for 36.8% and 17.1% of the total industrial value added of enterprises above designated size. Production of new products such as high-speed trains, industrial robots, and servers maintained rapid growth, and the green content of industry also increased. Production of new energy vehicles exceeded 16 million units, with production and sales volume remaining the world's largest for 11 consecutive years. Growth of green products such as wind turbine generators and bio-based chemical fibers also maintained a high level.

三是工业改造提升向好。依托技术攻关、数智赋能和绿色转型，传统产业也在不断培育发展新动能，全年规模以上石油加工行业增加值比上年增长6.7%，其中生物燃料加工行业增长16.8%；化纤行业增长8.2%，其中生物基材料制造行业增长27.9%。行业转型持续深入，带动企业盈利逐步回升。1—11月份，在建材、化工行业中，规模以上石墨及碳素制品制造、生物化学农药和微生物农药制造行业利润同比分别增长73.9%和48.3%。

Third, industrial transformation and upgrading progressed. Relying on technological breakthroughs, digital empowerment and green transformation, traditional industries also cultivated new growth drivers. The value added of petroleum processing enterprises above designated size increased 6.7% year on year, with the biofuel processing sector up 16.8%. The chemical fiber industry increased 8.2%, with bio-based materials manufacturing up 27.9%. Industrial transformation continued to deepen, driving a gradual recovery in corporate profits. From January to November, in the building materials and chemical industries, profits of graphite and carbon product manufacturing enterprises above designated size increased 73.9% year on year, and biochemical pesticide and microbial pesticide manufacturing increased 48.3%.

四是制造业企业效益改善。前11个月，规模以上制造业利润同比增长5%，上年同期是下降4.6%；装备制造业和高技术制造业利润同比分别增长7.7%和10%，为工业企业效益改善提供了有力支撑。

Fourth, manufacturing enterprises' profitability improved. In the first 11 months, profits of manufacturing enterprises above designated size increased 5% year on year, compared with a decline of 4.6% in the same period last year. Profits of equipment manufacturing and high-tech manufacturing rose 7.7% and 10% year on year, respectively, providing strong support for improved profitability among industrial enterprises.

总的来看，2025年工业生产稳定发展、产业结构向新向优，完整产业体系优势更加显著。同时也看到，外部环境变化影响逐步加深，国内转型升级存在阵痛，部分企业生产经营还比较困难。下阶段，要推动科技创新和产业创新深度融合，持续优化产业结构，加快培育新质生产力，推动工业经济向好发展。谢谢！

Overall, in 2025, industrial production maintained stable growth, the industrial structure was optimized, and the advantages of a complete industrial system became more prominent. At the same time, the impact of changes in the external environment gradually deepened, domestic transformation and upgrading faced growing pains, and some enterprises still encountered considerable difficulties in production and operations. Moving ahead, we must promote the deep integration of technological innovation and industrial innovation, continuously optimize the industrial structure, accelerate the cultivation of new quality productive forces, and promote the sound development of the industrial economy.

Thank you.

南华早报记者:

South China Morning Post:

统计局近期公布去年CPI全年持平，12月同比回升至0.8%，创近三年新高，这是否意味着价格下行压力减轻？如何看待2026年的物价走势？谢谢。

The NBS recently announced that the CPI remained flat throughout last year, but rebounded to 0.8% year on year in December, a nearly three-year high. Does this mean downward price pressure has eased? What is your outlook for prices in 2026? Thank you.

康义:

Kang Yi:

谢谢您的提问。物价问题大家都比较关注。近年来，我国价格水平总体偏低，低位运行，2025年居民消费价格与上年持平，月度同比变化小幅波动。对价格问题，要全面看、辩证看，既要看总体，也要看结构，还要结合政策动态看。

Thank you for your questions. Price issues are of great concern to everyone. In recent years, China's price level has been generally low and has remained at a low level. In 2025, the CPI was unchanged from the previous year, with slight fluctuations in the monthly year-on-year readings. When it comes to price issues, we must take a comprehensive and dialectical view, considering not only the overall picture but also the structure and policy developments.

首先CPI运行有明显的结构性特征，食品和能源价格下降对整个CPI的影响比较大。从食品价格来看，去年我国气候条件比较有利，生猪产能比较充裕，肉蛋菜等食品总体上供应充足，全年食品价格比上年下降1.5%，影响CPI下降约0.27个百分点。从能源价格来看，受国际油价波动下行影响，国内能源价格下调，也是CPI走低的重要因素。2025年，能源价格下降3.3%，影响CPI下降约0.25个百分点。同时还要看到，当前CPI低位运行，既与国内外宏观经济形势复杂变化有关，也与我国的发展阶段相关。当前一些传统动能增势放缓，影响部分行业价格，外部环境变化也加大了国内价格调整的压力，但这些都是阶段性的。

First, the CPI exhibited distinct structural factors, with declines in food and energy prices having a significant impact on the headline figure. In terms of food prices, favorable climate conditions in China last year, coupled with ample hog production capacity, ensured a sufficient supply of meat, eggs, vegetables and other food items. As a result, food prices fell by 1.5% year on year, contributing approximately 0.27 percentage point to the CPI decline. In terms of energy prices, domestic energy prices declined due to downward fluctuations in international oil prices, which was also an important factor in the lower CPI. In 2025, energy prices fell by 3.3%, pulling down the CPI by approximately 0.25 percentage point. At the same time, it should be noted that the current low-level CPI is related to both complex changes in the domestic and international macroeconomic situation and to China's current stage of development. While the slowing momentum of certain traditional industries and external environmental shifts have pressured domestic prices, these factors are transitional.

第二，扩内需及相关政策成效显现，核心CPI温和回升。随着消费品以旧换新政策拉动，部分行业产能治理成效显现，部分领域供需关系有所改善，相关产品价格回升。2025年，扣除食品和能源后的核心CPI比上年上涨0.7%，涨幅比上年扩大0.2个百分点。其中12月份上涨1.2%，连续4个月保持在1%以上。具体看，2025年扣除能源的工业消费品价格上涨1.1%，其中，家用器具、通信工具价格分别上涨1.8%、0.6%，燃油小汽车和新能源小汽车价格降幅明显收窄。服务价格保持温和上涨态势，全年上涨0.5%。

Second, policies aimed at expanding domestic demand and related measures took effect, with the core CPI showing a moderate rebound. Driven by the consumer goods trade-in program, capacity management in some industries took effect, and supply-demand dynamics in some areas improved, leading to a recovery in prices of related products. In 2025, the core CPI, excluding food and energy prices, rose by 0.7% compared to the previous year, 0.2 percentage point higher than that in the first half of the year. December saw a 1.2% increase, marking the fourth consecutive month of growth above 1%. Specifically, in 2025, industrial consumer goods prices excluding energy rose 1.1%, with household appliances and communication equipment up 1.8% and 0.6%, respectively. Price declines for fuel-powered cars and new energy cars also narrowed significantly. Service prices maintained a moderate upward trend, rising 0.5% for the year.

第三，推动CPI温和回升的有利因素在累积。从基本面来看，随着提振消费专项行动有力实施，特别是财政金融协同促内需一揽子政策等增量措施陆续推出，消费需求有望逐步扩大，物价稳定运行有基础。12月份，CPI同比上涨0.8%，涨幅是2023年3月份以来最高。元旦假期食品消费增加，外出就餐、走亲访友、旅游等服务消费较为活跃，九天春节假期也在临近，有助于推动CPI季节性回升。根据目前掌握情况初步来看，1月份以来，鲜果、飞机票、旅游等商品和服务价格总体稳中有涨。从政策支撑来看，行业自律、产能治理成效仍将继续显现，今年将进一步加强重点行业产能调控，完善产品标准体系和质量，有利于价格回升。

Third, favorable factors driving a moderate rebound in the CPI are accumulating. Looking at the fundamentals, with the implementation of special initiatives to boost consumption, particularly incremental measures such as the coordinated fiscal and financial policy package to promote domestic demand, consumer demand is expected to gradually expand, laying a foundation for stable prices. In December, the CPI rose 0.8% year on year, the highest since March 2023. Food consumption increased during the New Year's Day holiday, while service consumption, such as dining out, visiting relatives and friends, and tourism, was relatively active. The nine-day Spring Festival holiday is also approaching, which will help drive a seasonal rebound in the CPI. Preliminary data for January shows prices for goods and services, such as fresh fruit, flight tickets and tourism, have generally remained stable with some increases. From a policy perspective, the effects of industry self-regulation and capacity management will continue to show. This year, capacity controls in key industries will be further strengthened, and product standards and quality will be improved, supporting price recovery.

总的来看，推动物价合理回升，既有利于促进企业和居民增收，也有利于稳定市场预期，要继续发挥宏观政策集成效应，扩大居民消费，规范市场竞争行为，积极破解供需矛盾，来促进物价合理回升。谢谢！

Overall, promoting a reasonable rebound in prices benefits both businesses and residents by increasing incomes and stabilizing market expectations. We will continue to leverage the combined effects of macroeconomic policies, expand consumer spending, regulate market competition, and actively address supply-demand imbalances to promote a reasonable price recovery.

Thank you.

寿小丽:

Shou Xiaoli:

请继续提问。举手的记者还有很多，由于时间关系，我们提最后两个问题。

Let's continue with the questions. We have many journalists waiting, but due to time constraints, we'll takethe last two questions.

中宏网记者:

Zhonghongwang.com:

“十四五”时期是我国迈向高质量发展的关键五年，我国经济社会发展取得了哪些新进展和新成效？另外，对于“十五五”时期有怎样的发展展望？谢谢。

The 14th Five-Year Plan period was a crucial stage for China's transition toward high-quality development. What new progress and achievements have been made in economic and social development during this period? In addition, what is the outlook for the 15th Five-Year Plan period? Thank you.

康义:

Kang Yi:

谢谢您的提问。确实，“十四五”时期我国发展历程极不寻常、极不平凡。我们迎难而上、砥砺前行，有效应对了一系列重大风险挑战，经济社会发展取得新的重大成就。具体表现在这么几个方面：

Thank you for your questions. The 14th Five-Year Plan period has indeed been a truly remarkable and extraordinary part of China's development journey. We faced challenges head-on and forged ahead with determination, effectively responding to a series of major risks and challenges. We achieved new and significant accomplishments in economic and social development. Specifically, this was reflected in the following areas:

一是经济发展实现新跨越。“十四五”时期，我国经济年均增长5.4%，远超世界平均水平，继续领跑全球主要经济体，是世界经济增长的主要动力源。经济总量，前面已经介绍，连破四个台阶，突破了140万亿元。按年平均汇率折算，我国人均GDP从2020年的10632美元提升到2025年的13953美元，已经连续3年超过了1.3万美元。

First, economic development achieved a new leap forward. During the 14th Five-Year Plan period, China's economy grew at an average annual rate of 5.4%, outperforming the world average. It continued to lead among the world's major economies and served as a major driver of global economic growth. As previously mentioned, total economic output crossed four thresholds, exceeding 140 trillion yuan. Converted at the average annual exchange rate, China's per capita GDP increased from $10,632 in 2020 to $13,953 in 2025, exceeding $13,000 for three consecutive years.

二是创新发展取得新突破。“十四五”时期，全社会研发经费投入年均增长10%，2025年基础研究经费占比达到7.08%，创历史新高。全球百强科技创新集群数量，我国已经连续3年位居世界第一。国家统计局还有一个创新指数指标也在发布。2024年，中国创新指数比2020年增长25.5%，其中创新环境、创新产出指数均增长33.8%；“三新”经济增加值占GDP比重已经升到18%；专利密集型产业增加值占GDP比重增至13.38%。人工智能等新一代信息技术蓬勃发展，数实融合不断加深，企业生产过程中投入的计算机通信和电子设备占比提升了1个百分点左右，提升幅度明显高于“十三五”时期；2024年我国数字经济增加值占GDP比重升至33.1%，其中数字经济核心产业增加值占比升至10.5%。

Second, innovative development achieved new breakthroughs. During the 14th Five-Year Plan period, R&D investment grew at an average annual rate of 10%, and the proportion of basic research expenditure reached 7.08% in 2025, a record high. China has topped the global rankings for three consecutive years in the number of top 100 sci-tech innovation clusters. The NBS also publishes an innovation index. In 2024, China's innovation index increased 25.5% compared to 2020, with the innovation environment and innovation output indices both rising 33.8%. Value added of the new industries, new formats, and new business models accounted for 18% of GDP, and value added of patent-intensive industries accounted for 13.38% of GDP. New-generation information technologies such as AI flourished, and the integration of digital technologies and the real economy continued to deepen. The proportionof computer, communication and other electronic input during production increased by about 1 percentage point, significantly higher than during the 13th Five-Year Plan period. In 2024, the value added of China's digital economy rose to 33.1% of GDP, with the core industries of the digital economy accounting for 10.5%.

三是改革开放迈出新步伐。“十四五”时期，全国统一大市场建设纵深推进，营商环境持续优化，市场准入负面清单缩减至106项；党的二十届三中全会接力部署了300多项改革举措，二十届四中全会对进一步全面深化改革也作出部署，改革向广度和深度继续进军。我国高水平对外开放不断扩大，共建“一带一路”走深走实，自由贸易试验区建设加快实施，制造业领域外资准入限制全面“清零”，新版鼓励外商投资产业目录发布，制度型开放“含金量”持续提升。2021-2025年，我国货物进出口总额年均增长超过7%，其中对共建“一带一路”国家进出口额占比提高到51.9%。

Third, new strides were made in reform and opening up. During the 14th Five-Year Plan period, the construction of a unified national market was advanced, the business environment was continuously optimized, and the negative list for market access was reduced to 106 items. The third plenary session of the 20th CPC Central Committee rolled out more than 300 reform measures, and the fourth plenary session of the 20th CPC Central Committee also made arrangements for further deepening comprehensive reforms, pushing reform forward in both breadth and depth. China continued to expand high-standard opening up, with deeper and more substantive advances in Belt and Road cooperation and the accelerated construction of free trade zones. All restrictions on foreign investment access in the manufacturing sector were fully lifted, and the new Catalogue of Encouraged Industries for Foreign Investment was released, continuously enhancing the substance of institutional opening up. From 2021 to 2025, China's total goods import and export volume grew at an average annual rate of over 7%, with the share of imports and exports with Belt and Road countries rising to 51.9%.

四是绿色转型展现新面貌。“十四五”时期，我国构建起了全球最大、发展最快的可再生能源体系，非化石能源消费占比由2020年的16%提高到2025年的20%以上；单位GDP能耗继续下降，成为全球能耗强度下降最快的国家之一；建成了全球最大最完整的新能源产业链，太阳能电池、风力发电机组等绿色产品产量年均分别增长39.6%、31.3%；森林覆盖率已经超过25%，成为全球增绿最多最快的国家。

Fourth, new progress was achieved in the green transition. During the 14th Five-Year Plan period, China built the world's largest and fastest-growing renewable energy system, with the share of non-fossil energy consumption increasing from 16% in 2020 to over 20% in 2025. Energy consumption per unit of GDP continued to decline, making China one of the countries with the fastest decline in energy intensity globally. The world's largest and most complete new energy industrial chain was established, with the output of green products such as solar cells and wind turbines growing at an average annual rate of 39.6% and 31.3%, respectively. Forest coverage exceeded 25%, making China the global leader in afforestation by both area and growth rate.

五是民生改善取得新成效。“十四五”时期，每年城镇新增就业稳定在1200万人以上，就业形势总体稳定，全国居民人均可支配收入年均实际增长5.4%，与经济增长同步。脱贫攻坚成果巩固拓展，脱贫县农村居民人均可支配收入继续较快增长。全球规模最大的教育、医疗和社会保障体系持续巩固，各级教育普及程度达到或超过中高收入国家平均水平。2025年16-59岁劳动力平均受教育年限提高到11.3年，文化旅游体育等社会事业蓬勃发展，人民精神文化生活更加丰富，2024年文化及相关产业、旅游及相关产业增加值占GDP比重分别升到4.61%和4.35%。

Fifth, new improvements were made in people's livelihoods. During the 14th Five-Year Plan period, the number of newly added urban jobs held steady at over 12 million per year, and the overall employment situation remained stable. Nationwide per capita disposable income grew at an average annual real rate of 5.4%, in line with economic growth. The achievements in poverty alleviation were consolidated and expanded, and the per capita disposable income of rural residents in counties lifted out of poverty continued to grow rapidly. The world’s largest education, health care and social security systems continued to strengthen, and education availability at all levels reached or exceeded the average of middle- and high-income countries. In 2025, the working-age population (aged 16-59) had an average of 11.3 years of education. Social programs in culture, tourism and sports have flourished, further enriching people's spiritual and cultural lives. In 2024, the value added of cultural and related industries accounted for 4.61% of GDP, while tourism and related industries accounted for 4.35%.

六是安全保障实现新进步。“十四五”时期，我国粮食综合生产能力不断提升，粮食总产量由2021年的1.37万亿斤提高到了2025年的1.43万亿斤，中国人的饭碗牢牢端在自己手上。我国建成多元化能源供应体系，一次能源生产总量年均增长5%。产业链供应链韧性和安全水平稳步提升，制造业增加值年均增长5.5%，装备制造国产化率不断提高，电气机械、交通运输设备总供给中的国内制造占比均超过95%。

Sixth, new progress was made in safeguarding security. During the 14th Five-Year Plan period, the country's comprehensive grain production capacity steadily improved. China's total grain output increased from 1.37 trillion jin in 2021 to 1.43 trillion jin in 2025, ensuring that the country's food security remained firmly in its own hands. China established a diversified energy supply system, with total primary energy production growing at an average of 5% annually. The resilience and security of industrial and supply chains steadily improved. Manufacturing value added grew at an average annual rate of 5.5%. The domestic production rate of equipment manufacturing continued to rise, and domestically produced electrical machinery and transportation equipment each accounted for more than 95% of the total supply.

“看似寻常最奇崛，成如容易却艰辛。”“十四五”时期我国发展取得了重大成就，是在有力应对复杂国际形势，经历经济结构调整、产业升级、动能转换阵痛，成功战胜各种风险挑战中取得的，成之惟艰、十分不易。这些重大成就的取得，根本在于以习近平同志为核心的党中央领航掌舵，在于习近平新时代中国特色社会主义思想科学指引。“十五五”时期，我国发展环境面临深刻复杂变化，但我国经济长期向好基本面没有变，制度优势、市场优势、产业体系优势、人才资源优势更加彰显，创新驱动势头增强、改革开放纵深推进，将支撑我国高质量发展取得新成效。只要我们保持战略定力，积极识变应变求变，集中精力办好自己的事，就一定能够继续开创中国式现代化的崭新局面。谢谢！

"What seems ordinary is often the most extraordinary, and what appears easy is actually incredibly difficult." During the 14th Five-Year Plan period, China achieved significant development achievements. These achievements came amid a complex international situation, the growing pains of economic restructuring, industrial upgrading and transformation of growth drivers, as well as various risks and challenges. They were hard-won. These achievements are fundamentally attributable to the leadership of the CPC Central Committee with Comrade Xi Jinping at its core, and to the sound guidance of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era. During the 15th Five-Year Plan period, China's development environment will face profound and complex changes, but the fundamental trend of the country's long-term economic growth will remain unchanged. The advantages of its system, market, industrial system and human resources have become more prominent, innovation-driven momentum has strengthened, and reform and opening-up have advanced further. These will support China in achieving new results in high-quality development. As long as we maintain strategic resolve, actively recognize, adapt to and embrace changes, and focus on doing our own work well, we will surely continue to create a new chapter for Chinese modernization.

Thank you.

每日经济新闻记者:

National Business Daily:

2025年我国实施了一系列更加积极有为的宏观政策，包括支持“两重”建设、消费品以旧换新等。请问，这些宏观政策的实施成效如何？对于推动经济平稳健康发展发挥了哪些作用？谢谢。

In 2025, China implemented a series of more proactive and effective macroeconomic policies, including support for major national strategies, security capacity building in key areas, and consumer goods trade-in programs. How effective were these macroeconomic policies? What role did they play in promoting steady and healthy economic development? Thank you.

康义:

Kang Yi:

谢谢您的提问。2025年，各地区各部门加紧实施更加积极有为的宏观政策，有效落实存量政策，加力推出增量政策，全力稳就业、稳企业、稳市场、稳预期，有效保障了经济稳定向好运行，为全年经济社会发展主要目标任务的完成提供了坚实支撑。成效体现在这么几个方面：

Thank you for your questions. In 2025, all regions and departments accelerated the implementation of more proactive and effective macroeconomic policies, effectively implemented existing policies, and vigorously introduced new ones. They made every effort to stabilize employment, enterprise operations, markets and expectations. These efforts effectively ensured stable and positive economic performance and provided solid support for achieving the year's main economic and social development goals and tasks. The achievements were reflected in the following areas:

一是推动经济平稳运行。2025年，我国加强和改善宏观调控，出台了《稳就业稳经济推动高质量发展的若干举措》，统筹用好超长期特别国债、地方政府专项债券、中央预算内投资，加力扩围实施“两新”政策，加大“两重”项目建设力度，发挥新型政策性金融工具作用，有效对冲了经济下行压力，确保了全年目标顺利实现。全年以旧换新相关6类商品零售额比上年增长4.1%，比上年加快2个百分点，拉动社会消费品零售总额增长0.6个百分点；设备工器具购置投资增长11.8%，拉动投资增长1.8个百分点。

First, stable economic operations were promoted. In 2025, China strengthened and improved macroeconomic regulation, introduced measures to stabilize employment, stabilize the economy and promote high-quality development, and made coordinated use of ultra-long-term special treasury bonds, local government special bonds and central budget investment. It intensified efforts to expand large-scale equipment upgrades and consumer goods trade-in programs, increased support for major national strategies and security capacity building in key areas, and leveraged the role of new policy-based financial instruments, effectively offsetting the downward pressure on the economy and ensuring the smooth achievement of the annual targets. Retail sales of six categories of goods related to trade-in programs increased 4.1% year on year, 2 percentage points faster than the previous year, contributing 0.6 percentage point to total retail sales growth. Investment in equipment and tools rose 11.8%, contributing 1.8 percentage points to investment growth.

二是促进结构优化升级。宏观政策在促进经济稳定增长的同时，更加突出推动高质量发展的鲜明导向。2025年，九部门专门印发《关于扩大服务消费的若干政策举措》，更大力度提振服务消费，释放服务消费潜能。2025年，服务零售额比上年增长5.5%，9月份以来，服务零售额累计增速连续4个月回升。消费品以旧换新政策推动更多高品质耐用消费品进入居民生活，高效能等级家电、智能家居受到消费者青睐。在数码产品换新中，中高端机型占比较大。2025年末，我国每百户家庭家用汽车拥有量达到52.9辆，比上年末增加1.7辆。大规模设备更新政策促进产业升级步伐加快，带动相关行业产出较快增长。2025年，规模以上装备制造业增加值比上年增长9.2%，比上年加快1.5个百分点，占比提升到36.8%。

Second, structural optimization and upgrading were promoted. While promoting stable economic growth, macroeconomic policies placed greater emphasis on fostering high-quality development. In 2025, nine government departments rolled out a package of measures to augment service consumption to further boost service consumption and unleash its potential. In 2025, service retail sales increased 5.5% year on year. Since September, cumulative service retail sales growth has rebounded for four consecutive months. Trade-in programs for consumer goods have driven more high-quality durable consumer goods into people's lives, with high-efficiency home appliances and smart home products proving popular among consumers. In the digital product replacement market, mid-to-high-end models accounted for a large share. By the end of 2025, the number of private cars owned per 100 households in the country reached 52.9, an increase of 1.7 from the previous year. Large-scale equipment upgrade policies accelerated the pace of industrial upgrading and drove rapid output growth in related industries. In 2025, the value added of equipment manufacturing enterprises above designated size increased 9.2% year on year, 1.5 percentage points faster than the previous year, and its share of the total rose to 36.8%.

三是培育壮大发展新动能。科技创新与产业创新深度融合，“人工智能+”行动加力推进，产业创新发展和成果应用加快，新兴产业、未来产业培育壮大，为经济稳定增长注入了源头活水。2025年，规模以上智能无人飞行器制造、智能车载设备制造行业增加值分别增长57%、26.2%，集成电路制造、光电子器件制造行业增加值分别增长26.7%、18.8%。人工智能大模型、量子科技、具身智能等新赛道出现越来越多中国企业的身影。

Third, new development momentum was cultivated. Technological innovation and industrial innovation became deeply integrated, with intensified efforts in the "AI Plus" initiative. The pace of industrial innovation and the application of its achievements has accelerated, and emerging and future industries have been cultivated and strengthened, injecting vital momentum into stable economic growth. In 2025, the value added of intelligent unmanned aerial vehicle manufacturing and intelligent vehicle-mounted equipment manufacturing enterprises above designated size increased 57% and 26.2%, respectively. Meanwhile, the value added of integrated circuit manufacturing and optoelectronic device manufacturing enterprises increased 26.7% and 18.8%, respectively. More and more Chinese companies made their presence felt in emerging fields such as large AI models, quantum technology and embodied intelligence.

四是促进经济循环改善。纵深推进全国统一大市场建设，优化市场竞争秩序，为物价合理回升、企业效益改善提供了有利条件。12月份，核心CPI同比上涨1.2%，工业生产者出厂价格同比降幅收窄，制造业PMI升至50.1%；1-11月份规模以上制造业企业利润增长5.0%，去年同期为下降4.6%。谢谢！

Fourth, economic circulation improved. The continued advancement of a unified national market and the optimization of market competition provided favorable conditions for a reasonable recovery in prices and improved corporate profits. In December, core CPI rose 1.2% year on year, the year-on-year decline in the producer price index narrowed, and the manufacturing PMI rose to 50.1%. In the first 11 months, profits of manufacturing enterprises above designated size increased 5.0%, compared with a decline of 4.6% in the same period last year.

Thank you.

寿小丽:

Shou Xiaoli:

谢谢两位发布人，谢谢各位记者朋友，今天的发布会就到这里。大家再见！

Thank you to all the speakers and journalists. That concludes today's press conference. Goodbye, everyone.