BAKU, Azerbaijan, December 30. China’s economy continued to expand in the fourth quarter of 2025, maintaining steady growth despite a slight moderation towards year-end, Trend reports via the Organization of the Petroleum Exporting Countries (OPEC).
China’s GDP growth stood at 4.8% year-on-year (y-o-y) in the third quarter of 2025, following a 5.4% increase in the first quarter and 5.2% in the second quarter. The services sector remained a key contributor, expanding by 5.4% y-o-y in 3Q25, after recording growth of 5.7% in 2Q25 and 5.3% in 1Q25.
Industrial production growth showed signs of moderation in October, increasing by 4.9% y-o-y compared to 6.5% in September. Similarly, retail sales grew by 2.0% y-o-y in October, slightly down from 2.1% in September. Housing prices, as measured by the 70-city price index, declined by 5.1% y-o-y in October, following a 4.5% decline in September and 4.7% in August, indicating a temporary pause in the stabilization of the housing market.
The urban unemployment rate improved to 5.1% in October, down from 5.2% in September, while youth unemployment in urban areas decreased to 17.3%, compared to 17.7% in September and 18.9% in August.
External demand remained robust, bolstered by reduced U.S. tariffs. China’s trade balance surged to $111.7 billion in November, up from $90.1 billion in October and $90.6 billion in September. Exports reached $330.4 billion in November, compared to $305.4 billion in October, while imports stood at $218.7 billion, up from $215.3 billion in October.
Inflation remained under control, with the headline Consumer Price Index (CPI) rising to 0.7% y-o-y in November, up from 0.2% in October, due to temporary food price pressures caused by adverse weather conditions. Core CPI remained stable at 1.2% y-o-y.
Despite the slight moderation in some indicators towards year-end, China’s economic expansion in 2025 remains resilient, supported by robust domestic consumption, exports, and policy measures.