How do rapidly rising tariffs and order suspensions faced by foreign trade enterprises affect the overall economic operation, and what impact does it have on employment? On the 19th, Fu Linghui, spokesperson for the National Bureau of Statistics of China, stated that China's economy is 'stable at its core, has many advantages, is resilient, and has great potential'.
The Information Office of the State Council of China held a press conference on the operation of the national economy in April 2025.
In response to the question, Fu Linghui pointed out, “Many people have questions about how China’s economy can maintain such stable growth under the condition of external shocks?”
He said that in the face of external shocks, China's economy can withstand pressure and achieve stable growth because China's economy is 'stable at its core, has many advantages, is resilient, and has great potential'. Moreover, coordinated efforts in macro policies and proactive adaptation across various sectors further promote high-quality development and accelerate the establishment of a new development pattern.
He said, “China's economy is like an ocean, not a small pond,” and stated that since the 18th National Congress of the Communist Party of China, it has “accurately perceived domestic and international development trends, made significant decisions and deployments for high-quality development,” and that intensified macroeconomic policies are working effectively to stabilize the economy.
Accelerated Growth in Imports and Exports with 'Belt and Road' Countries
He said that in April, the external environment changed drastically, and the pressure on foreign trade increased, yet China’s foreign trade maintained stable growth. Viewing from the characteristics of foreign trade, growth in imports and exports with ASEAN and countries involved in the Belt and Road Initiative accelerated. Private foreign trade enterprises adapted actively and effectively responded through strategies like market diversification, showing notable effects. Industry upgrades and developments, along with the increasing competitiveness of technically advanced mechanical and electrical products, have become growth points for exports.
Putting Pressure on China's Labor Market
However, at this press conference, Fu Linghui also admitted that the complex changes in the external environment exert certain pressure on China's labor market. Against this backdrop, in the next phase, “we must remain determined to do our own thing well.”
In 2018, Chinese President Xi Jinping said at the first China International Import Expo, “China is the world’s second-largest economy, has a market of more than 1.3 billion people, and covers an area of over 9.6 million square kilometers. China's economy is like an ocean, not a small pond. The ocean sometimes is calm, sometimes is stormy. Without storms, it would not be an ocean. Storms and rains can overturn a small pond, but they cannot overturn the ocean. Having weathered countless storms, the ocean is still there! Having endured over 5,000 years of difficulties and hardships, China is still here! Looking to the future, China will always be here!”