Reference News Network, October 23 report: According to the South China Morning Post website on October 21, although there are still domestic and international challenges, several well-known banks expect this year's Chinese economy to be more robust as data from the third quarter showed that China's economic growth exceeded expectations.
According to the report, the investment bank Goldman Sachs raised its full-year GDP growth forecast for China in 2025 from 4.8% to 4.9%, and said that the Chinese government's growth target of around 5% is "basically expected to be achieved."
In a report on the 20th, Goldman Sachs also upgraded its growth forecast for 2026.
Data released by Chinese authorities on the 20th showed that China's economy grew by 4.8% in the third quarter of 2025, bringing the growth for the first three quarters of the year to 5.2%.
As investment banks revised their growth forecasts, the Fourth Plenary Session of the 20th Central Committee of the Communist Party of China is reviewing the proposal for the next five-year plan. The meeting will last until the 23rd.
On the 21st, the People's Daily published an opinion article by Wang Yiming, vice chairman of the China International Economic Exchange Center, emphasizing the institutional advantages of China's five-year plan.
The article stated, "The institutional advantage of 'drawing a blueprint to the end' and adhering to a national chessboard has powerfully promoted China's economic and social development... creating rare miracles of rapid economic development and long-term social stability in the world."
Like Goldman Sachs, Standard Chartered Bank also raised its full-year growth forecast for China in 2025 from 4.8% to 4.9%. Ding Shuang, chief economist for Greater China and North Asia at Standard Chartered Bank, pointed out that China's GDP growth in the third quarter exceeded expectations.
At the same time, Barclays Bank in the UK also raised its full-year growth forecast for China in 2025 from 4.5% to 4.8%.
Data released by the National Bureau of Statistics of China showed that in September, the added value of industrial enterprises above the designated size grew by 6.5% year-on-year. This data was higher than 5.2% in August. (Translated by Li Sha)
On October 9, 2025, technical staff at Changxing Dite Auto Parts Co., Ltd. in the Changxing Economic and Technological Development Zone of Huzhou City, Zhejiang Province, operated industrial robots to produce new energy vehicle parts (drones photo). (Xinhua News Agency)
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