By Wu Qiuyu, People’s Daily
On May 19, China released its economic data for April, surpassing market expectations and prompting significant attention both domestically and internationally. Some foreign media outlets remarked that, despite trade tensions, China has successfully avoided an economic slowdown.
What underpins the sustained resilience of the Chinese economy in the face of mounting external uncertainties? Two recent developments offer insight into the underlying drivers.
On the same day the economic figures were made public, Chinese tech giant Huawei unveiled two laptops powered by HarmonyOS, marking the debut of its self-developed operating system on personal computers. Shortly thereafter, Chinese tech firm Xiaomi officially released its first self-developed 3-nanometer mobile chip, Xring O1.
These developments underscore a fundamental truth: no form of external containment or suppression has impeded — and none can impede — China’s pursuit of independent innovation and sustained development.It was this confidence and self-reliance that underpinned China’s stronger-than-expected performance in April.
In early April, in Yiwu, east China’s Zhejiang province, the world’s largest small commodity market, merchants were actively engaged in brand-building and quality enhancement efforts.
Moving beyondtraditional contract manufacturing, businesses there are increasingly shifted their focus toward developing their own brands. Since the beginning of this year, the Yiwu Selection project, which literally means “Yiwu quality goods,” has been establishing franchisestores overseas.
Its first global store,launched in January,generated 120 million yuan (about $16.66 million) in orders on its opening day. The brand’s first European store followed in February, opening in Venice, Italy. In just a few months, over 190 Yiwu-based brands have collectively increased sales by over 100 million yuan across 11 countries, underscoring the advantages of a diversified global presence amid rising unilateralism.
Many foreign trade companies in Yiwu are also moving up the value chain through innovation. As one merchant succinctly put it,”With good products and strong demand, we don’t fear change.” This internal drive is emblematic of the broader vitality that fuels China’s economic resilience.
In April, China’s total goods imports and exports in yuan-denominated terms expanded 5.6 percent year on year, with exports up 9.3 percent.
On the product side, exports of high-tech and high-value-added goods continue to rise. In the first four months of 2025, exports of mechanical and electrical products increased by 9.5 percent from a year ago.
On the business side, private enterprises have effectively mitigated external risks through market diversification strategies. In the first four months, private enterprises saw a year-on-year increase of 6.8 percent in imports and exports.
Yet, trade performance alone does not capture the full picture. The rapid export growth in April reflects the deeper structural strengths underpinning China’s high-quality development.
China’s manufacturing industry maintained the top global position in terms of overall scale for a 15th consecutive year in 2024, and the country remains one of the world’s largest consumer markets. These fundamentals continue to bolster its strong resilience amid external shocks.
Moreover, China is vigorously advancing economic restructuring, cultivating new drivers of growth, developing new quality productive forces tailored to local conditions, and accelerating the development of a modern industrial system. Byforging a new development paradigm that strengthens domestic demand while opening up further to the outside world, China is laying the groundwork for a more resilient and sustainable development trajectory.
Supportive macroeconomic policies are also playing a critical role. From cutting interest rates and reserve requirement ratios to integrating domestic and foreign trade and expanding pilot programs to accelerate the opening up the service sector, a new round of pro-growth policies is gradually taking effect. These measures provide China with the resources, capacity, and confidence to address emerging challenges with composure.
It is often in times of adversity that a country’s true economic strength becomes most evident. Such moments not only test resilience but also reinforce long-term confidence in development prospects.
Since the second quarter, several international organizations and institutions have revised their forecasts for China’s economic growth this year upwards. Executives from multinational companies increasingly describe China as a “beacon of certainty” in an uncertain world.
China’s economy has always grown stronger through storms and setbacks. Amid global instability and uncertainty, China continues to demonstrate that its recovery is grounded in robust fundamentals, guided by prudent policymaking, propelled by domestic consumption, and sustained by a relentless commitment to innovation.
