China reaches five percent growth target as record trade surplus masks domestic weakness

China met its 2025 growth target of five percent behind a record trade surplus. However, falling investment and weak spending reveal deep structural risks.

Insights:
The economy of China CNCNhit its official growth target for 2025, expanding by 5.0 percent according to data released by the National Bureau of Statistics on Monday, January 19, 2026. This headline figure was bolstered by a record trade surplus that reached 1.2 trillion dollars, a figure 20 percent higher than the previous year. However, the data reveals a deepening divergence between surging exports and a struggling domestic landscape.
People walk on a street near a shopping mall in Beijing, China, October 19, 2025. REUTERS/Tingshu Wang
People walk on a street near a shopping mall in Beijing, China, October 19, 2025. REUTERS/Tingshu Wang
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