2025 Economic Data - Li Seeks Opinions on 15th FYP - Central Political and Legal Work Conference
Here are the key reports and articles from the People’s Daily’s edition on Tuesday, January 20, 2026.
Page 1: The lead report on the page today is about the annual development data from NBS (full English readout). Key data points:
GDP is estimated at 140.18 trillion yuan, an increase of 5.0% over the previous year at constant prices. By quarters, the GDP for the first quarter went up by 5.4% year on year, up by 5.2% for the second quarter, 4.8% for the third quarter and 4.5% for the fourth quarter. The GDP for the fourth quarter increased by 1.2% quarter on quarter.
The total value added of industrial enterprises above the designated size increased by 5.9% over the previous year. In terms of sectors, the value added of mining was up by 5.6%, that of manufacturing up by 6.4%, and that of production and supply of electricity, heat power, gas and water 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%, 3.3 percentage points and 3.5 percentage points faster than that of the industrial enterprises above the designated size respectively.
The production of 3D printing devices, industrial robots and new energy vehicles grew by 52.5%, 28.0% and 25.1%, respectively.
In December, the total value added of industrial enterprises above the 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 points higher than that of the previous month; the Production and Operation Expectation Index was 55.5%, up by 2.4 percentage points. In the first eleven months, the total profits made by industrial enterprises above the designated size were 6,626.9 billion yuan, up by 0.1 % year on year.
The value added of service sector went up by 5.4% over the previous year. Specifically, the value added of information transmission, software and information technology services, leasing and business services, transport, storage and postal services, wholesales and retails, and accommodation and catering grew by 11.1%, 10.3%, 5.2%, 5.0% and 4.9%, respectively.
The total retail sales of consumer goods reached 50.12 trillion yuan, up by 3.7% over the previous year.
Fixed assets investments reached 48,518.6 billion yuan, down by 3.8% over that of the previous year; the investment in fixed assets went down by 0.5% with the investment in real estate development deducted. Specifically, the investment in infrastructure dropped by 2.2%; that in manufacturing grew by 0.6%; and that in real estate development declined by 17.2%.
The floor space of newly-built commercial buildings sold was 881.01 million square meters, down by 8.7%; the total sales of newly-built commercial buildings were 8,393.7 billion yuan, down by 12.6%.
By industry, the investment in the primary industry went up by 2.3%, that in the secondary industry up by 2.5%, and that in the tertiary industry down by 7.4%. The private investment declined by 6.4 percent, or down by 1.9% with the investment in real estate development deducted. Among high-tech industries, the investment in information services and aerospace vehicle and equipment manufacturing grew by 28.4% and 16.9%, respectively. In December, the investment in fixed assets (excluding rural households) declined by 1.13% month on month.
The total value of imports and exports of goods was 45.47 trillion yuan, an increase of 3.8% over that of the previous year. Specifically, the total value of exports was 26.99 trillion yuan, up by 6.1%, and the total value of imports was 18.48 trillion yuan, up by 0.5%.
CPI maintained the same level as that of the previous year.
Urban surveyed unemployment rate averaged 5.2%.
National population was 1.404 billion, a decrease of 3.39 million over that at 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 -2.41 per thousand.
Intensity of R&D expenditure is now 2.8% of GDP.
Share of non-fossil energy consumption has increased from 16% in 2020 to over 20% in 2025.
Next, there’s a report on Li Qiang chairing a symposium with experts, entrepreneurs, and representatives from the fields of education, science, culture, health, and sports to solicit opinions and suggestions on the draft Government Work Report and the Draft Outline of the 15th Five-Year Plan. The two drafts have been simultaneously circulated to various localities and departments for comments.
The report says:
At the symposium, Ming Ming, He Jia, Yan Junjie, Zhang Zhigang, Gong Qihuang, Yu Xiaohui, Wang Yongjun, Zhou Liya, Shi Yuqi and others spoke in succession. Everyone believed that last year was a very extraordinary year. In the face of a complex and severe external situation, our country increased the intensity of counter-cyclical adjustment and rolled out many pragmatic measures in areas such as stabilising growth, adjusting the structure, and benefiting people’s livelihoods. Positive factors in development continued to accumulate, factor flows remained continuously active, market confidence was markedly strengthened, and the achievements obtained were truly hard-won. Participants also offered suggestions on how to improve economic and social development this year and during the 15th Five-Year Plan period, based on their respective fields. 座谈会上，明明、贺佳、闫俊杰、张智刚、龚旗煌、余晓晖、王拥军、周莉亚、石宇奇等先后发言。大家认为，去年是很不平凡的一年，面对复杂严峻的外部形势，我们国家加大逆周期调节力度，在稳增长、调结构、惠民生等方面推出很多务实举措，发展中的积极因素不断积累，要素流动持续活跃，市场信心明显增强，取得的成绩实属不易。大家还结合各自领域，就做好今年和“十五五”时期经济社会发展工作提出了意见建议.
After listening carefully to everyone’s remarks, Li pointed out that over the past year, under the strong leadership of the Party Central Committee with Comrade Xi Jinping at its core, we implemented more proactive and effective macro policies, calmly responded to external shocks, and our country’s economy pressed ahead under pressure, developing toward the new and toward the better. Emerging industries accelerated their cultivation and growth, and market demand continued to expand and improve, demonstrating strong resilience and vitality. This year is the first year of the 15th FYP. The external situation remains complex and volatile, uncertain and unpredictable factors are increasing, and there are still quite a few old problems and new challenges in economic development. But it must be recognised that the supporting conditions and basic trend of our country’s economy improving over the long term have not changed, and the prospects for high-quality development are broad. As long as we remain confident, face the problems head-on, and concentrate our efforts on managing our own affairs well, we will certainly be able to continuously consolidate and expand the momentum of steady economic growth and firmly grasp the initiative in development. 在认真听取大家发言后，李强指出，过去一年，在以习近平同志为核心的党中央坚强领导下，我们实施更加积极有为的宏观政策，沉着应对外部冲击，我国经济顶压前行、向新向优发展，新兴产业加快培育壮大，市场需求持续扩容提质，展现出强大韧性和活力。今年是“十五五”开局之年，外部形势依然复杂多变，不确定难预料因素增多，经济发展中老问题、新挑战还有不少。但要看到，我国经济长期向好的支撑条件和基本趋势没有改变，高质量发展前景广阔。只要我们坚定信心，直面问题，集中力量办好自己的事，就一定能不断巩固拓展经济稳中向好势头，牢牢把握发展主动权.
Li emphasised that it is necessary to thoroughly implement the Central Committee’s 15th FYP proposals and the deployment requirements of the Central Economic Work Conference, addressing the uncertainties of the development environment with the certainty of high-quality development. It is necessary to prioritise high-quality development goals, implement a more proactive fiscal policy and a moderately loose monetary policy, pay attention to the combined force of various policies, strengthen the coordination between reform measures and macro policies, and achieve greater breakthroughs in the effective improvement of quality. It is necessary to broaden the implementation path of high-quality development, strengthen innovation-driven growth, deepen reform and opening up, and place the strategic base point of development on expanding domestic demand, continuously enhancing the endogenous drive of development. It is necessary to earnestly guarantee and improve people’s livelihoods in the process of promoting high-quality development, persist in the close combination of benefiting livelihoods with promoting consumption and ‘investing in things’ with ‘investing in people’, cultivate new economic growth points, and continuously enhance the well-being of the people’s lives. 李强强调，要深入贯彻落实中央“十五五”规划建议和中央经济工作会议的部署要求，以高质量发展的确定性应对发展环境的不确定性。要突出高质量发展的目标引领，实施更加积极的财政政策和适度宽松的货币政策，注重各类政策组合发力，强化改革举措与宏观政策协同，在质的有效提升上取得更大突破。要拓宽高质量发展的实现路径，强化创新驱动，深化改革开放，把发展的战略基点放在扩大内需上，不断增强发展的内生动力。要在推动高质量发展中切实保障和改善民生，坚持惠民生和促消费、投资于物和投资于人紧密结合，培育新的经济增长点，持续增进民生福祉.
Next, there’s a report on Zhao Leji meeting with Sardar Ayaz Sadiq, speaker of the National Assembly of Pakistan. Xinhua says:
“Zhao said China stands ready to work with Pakistan to implement the important consensus reached by leaders of the two countries, accelerate the development of an even closer China-Pakistan community with a shared future in the new era, and bring greater benefits to the two peoples. Zhao said that China is willing to strengthen the alignment of its 15th Five-Year Plan with Pakistan’s National Economic Transformation Plan (URAAN Pakistan) for the 2024-2029 period. Zhao added that China is ready to advance the construction of the upgraded Version 2.0 of the China-Pakistan Economic Corridor (CPEC), and to deliver further achievements in key areas such as industry, agriculture, mining, transportation and people’s livelihoods. He also said that China supports Pakistan’s resolute efforts to combat terrorism. China’s NPC is willing to deepen its exchange of experience with the National Assembly of Pakistan on governance, legislation, oversight and other related areas, focusing on topics such as rural revitalization and green development, Zhao said. Sadiq said that Pakistan firmly supports China’s stance on its core interests and major concerns, including issues related to Taiwan, Xinjiang and Xizang. He noted that Pakistan hopes to strengthen cooperation with China in such fields as the economy, trade, investment, infrastructure development, people-to-people exchange and personnel training. The National Assembly of Pakistan is willing to deepen its exchange and cooperation with China’s NPC, he added.”
Page 4: There’s a report on Chen Wenqing’s remarks at the Central Political and Legal Work Conference in Beijing. It says:
Chen emphasised that the political and legal front must persist in taking Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era as guidance, deeply study and implement Xi Jinping Thought on the Rule of Law and the Overall National Security Concept, firmly support the Two Establishments and resolutely achieve the two safeguards. It is essential to adhere to the Party’s absolute leadership, adhere to taking the people as the center, adhere to coordinating development and security, establish and practice a correct view of political achievements, and focus on building a higher level Safe China and law-based China, providing a powerful guarantee for achieving a good start for the 15th FYP. 他强调，政法战线要坚持以习近平新时代中国特色社会主义思想为指导，深入学习贯彻习近平法治思想和总体国家安全观，坚定拥护“两个确立”、坚决做到“两个维护”，坚持党的绝对领导，坚持以人民为中心，坚持统筹发展和安全，树立和践行正确政绩观，着力建设更高水平平安中国、法治中国，为实现“十五五”良好开局提供有力保障.
Chen Wenqing fully affirmed the achievements made in national political and legal work in 2025, and emphasised that in doing a good job in 2026, it is necessary to strengthen political construction, implement the Party’s absolute leadership over political and legal work, and use the Party’s innovative theory to unify thinking, will, and action. It is necessary to strengthen the construction of a safe society, strictly implement the responsibility system for national security of Party committees (Party groups) and the responsibility system for maintaining social stability, and work together to prevent and punish violations, resolutely safeguarding national security and social stability. It is necessary to strengthen the rule of law, accelerate the construction of China’s independent legal knowledge system, and comprehensively promote scientific legislation, strict law enforcement, impartial justice, and universal compliance with the law. It is necessary to strengthen infrastructure construction, do a good job in the entire-chain screening and resolution of contradictions and disputes, deepen the service and management of relevant groups, strengthen the construction of grassroots political and legal units, and accelerate the construction of digital platforms for political and legal work. It is necessary to strengthen team building, advance the comprehensive and strict governance of the Party to a higher standard, and forge a loyal, clean, and responsible new era political and legal iron army. 陈文清充分肯定2025年全国政法工作取得的成绩，强调做好2026年工作，要加强政治建设，落实党对政法工作的绝对领导，用党的创新理论统一思想、统一意志、统一行动。要加强平安建设，严格落实党委（党组）国家安全责任制、维护社会稳定责任制，齐抓共管、惩防并举，坚决维护国家安全和社会稳定。要加强法治建设，加快构建中国自主的法学知识体系，统筹推进科学立法、严格执法、公正司法、全民守法。要加强基础建设，全链条做好矛盾纠纷排查化解，深化有关群体服务管理，加强基层政法单位建设，加快推进政法工作数字化平台建设。要加强队伍建设，以更高标准推进全面从严治党，锻造忠诚干净担当的新时代政法铁军.
Also on the page is a report on the three typical cases of problems in rectifying formalism to reduce burdens on the grassroots. Briefly, the cases are:
In June 2024, Haicheng city in Liaoning province spent 4.98 million yuan to sign a consulting project contract for ‘Comprehensive Services for Regional Economic and New Quality Productive Forces Research’ with a certain ‘Top 100 Counties’ list evaluation agency. Essentially, the deal did not produce any effective results but was rather a mere formality. And in return, the city’s ranking in the list of Top 100 went from 118th place to 91st place.
Relevant departments in Henan province set unreasonable assessment indicators in the work of introducing out-of-province funds, and the grassroots resorted to fraud to complete tasks. In recent years, in assessments for attracting funds from outside the province, the Henan Provincial Department of Commerce, even with an unrealistically high base figure, still required year-on-year increases, frequently circulated notices reporting local completion status, and, while clearly aware that the reported data were untrue, did not conduct careful verification and checks. To complete tasks, some counties and districts required enterprises to provide false supporting materials and even fabricated data on behalf of enterprises, resulting in distorted and untruthful data. For example, from January to November 2025, the Commerce Bureau of Wuyang County, Luohe city, falsely reported over 7 billion yuan in out-of-province funds in place; the Commerce Bureau of Zhecheng County, Shangqiu city, falsely reported over 4 billion yuan; and a certain project in Guancheng District, Zhengzhou city, falsely reported 960 million yuan. 河南省有关部门在引进省外资金工作中设置不合理考核指标，基层为完成任务弄虚作假。近年来，河南省商务厅在引进省外资金考核中，在基数虚高的情况下仍要求逐年递增，频繁通报地方完成情况，明知上报数据不实，不进行认真审核把关。有的县区为完成任务，要求企业提供虚假佐证资料，甚至代企业编造数据，造成数据失真失实。比如，2025年1月至11月，漯河市舞阳县商务局虚报省外到位资金70余亿元，商丘市柘城县商务局虚报省外到位资金40余亿元，郑州市管城区某个项目虚报省外到位资金9.6亿元.
Relevant departments in Yunnan Province frequently issued rankings and notifications in their work, and some places conducted statistical data fraud to complete indicators. Relevant departments in Yunnan Province violated the Several Provisions on Rectifying Formalism to Reduce the Burden on the Grassroots, issuing quarterly rankings and notifications for all 129 counties (cities, districts) in the province regarding indicators such as industrial added value and its growth rate, and fixed-asset investment growth rate. In order to complete tasks, some localities passed down targets with layer upon layer of added pressure, and frequently held meetings to dispatch and coordinate work; under pressure from higher levels, grassroots units engaged in falsification of statistical data. Over the three-year period from 2022 to 2024, 34 industrial enterprises above designated size in Shuangjiang County, Lincang city, cumulatively falsely reported 3.5 billion yuan in output value; several departments and townships in Shuangbai County, Chuxiong Prefecture, commissioned intermediary agencies to fabricate filing materials for 284 investment projects, cumulatively falsely reporting over 4 billion yuan in completed fixed-asset investment. 云南省有关部门在工作中频繁排名通报，有的地方为完成指标进行统计数据造假。云南省有关部门违反《整治形式主义为基层减负若干规定》，每季度对全省129个县（市、区）工业增加值及增速、固定资产投资增速等指标进行排名通报。为完成任务，有的地方层层加码下达指标，频繁开会调度，基层在上级压力下进行统计数据造假。2022年至2024年3年时间，临沧市双江县有34户规模以上工业企业累计虚报产值35亿元，楚雄州双柏县有多个部门、乡镇委托中介机构为284个投资项目编造入库备案资料，累计虚报固定资产投资完成额40余亿元.