Chine Croissance Du Pib

China’s GDP grew 1.2% quarter-on-quarter in Q4 2025, beating market expectations of 1.0% and following a 1.1% increase in Q3, logging the fastest expansion in three quarters. The latest reading reflected sustained policy support from Beijing alongside efforts to curb excess industrial capacity and rein in aggressive price competition. Leaders in December pledged to maintain a proactive fiscal stance for this year, with the statistics bureau calling for stronger macro policies and expanded domestic demand. Authorities also vowed to strongly lift household consumption’s share of the economy over the next five years. On the monetary front, the PBoC continued to keep liquidity ample, guiding borrowing costs lower, and providing cross-cyclical support without resorting to excessive stimulus. Recent measures included sector-specific lending rate cuts, signals of possible reserve-requirement and broader rate reductions, and steps to stabilize capital markets against mounting headwinds.