On 27 November 2025, Chinese Ambassador to Cyprus Liu Yantao published a signed article on China’s Steady Economic Growth: Continuing to Serve as an Anchor of Global Stability in the Next Five Years on Cyprus Mail newspaper. The full text is as follows:

The Fourth Plenary Session of the 20th Central Committee of the Communist Party of China was recently held in Beijing. The Recommendations for the formulation of the 15th Five-Year Plan, which was reviewed and adopted at the session, has attracted worldwide attention. It not only provides guidance for China’s economic and social development over the next five years, but also injects certainty and stability into the world.

During the 14th Five-Year Plan period (2021–2025), China achieved two miracles rarely seen in the world: rapid economic growth and long-term social stability. Its total economic output successively surpassed 110 trillion yuan (approx. USD 15.5 trillion), 120 trillion yuan (USD 16.9 trillion), and 130 trillion yuan (USD 18.3 trillion). Its per capita GDP exceeded USD 13,000 for two consecutive years. As a result, China is at the forefront of upper-middle-income countries.

It needs to be stressed that China has achieved a high level of self-reliance and strength in science and technology. In 2025, it has become top 10 on the global innovation index. It is also one of the economies with the fastest improvement in innovation capacity over the past decade and more. On such basis, the World Factory has evolved into a global innovation hub. For example, Unitree robotics are selling well worldwide thanks to its speed, stability, and cost-effectiveness. DeepSeek has drawn global attention with its advanced algorithms and powerful computing capabilities. DJI accounts for 70% of the global drone market with its strengths in flight stability and imaging systems.

China’s modern industrial system is developing at a faster pace. It boasts the world’s most complete and largest industrial system, contributing over 30% to global manufacturing output. BYD leads the global new-energy vehicle market with its strengths in battery and charging technologies. Huawei, supported by advanced 5G technology and self-developed chips, operates in more than 170 countries. Xiaomi continues to perform strongly in the global smartphone and smart-home markets with its innovation capability and good value for money.

China’s strategy of expanding domestic demand helps unleash its own potential. In 2021-2024, domestic demand contributed an average of 86.4% to China’s economic growth. Driven by pro-consumption policies, China’s designer toys and debut products, as well as China Travel and China Shopping, have gained greater popularity across the world. Experience-based consumption—such as Luckin Coffee, MINISO, and Mixue Ice Cream & Tea—has grown rapidly, especially among young people. In short, China’s domestic economic flow is full of vigor and vitality, and its huge market is a ballast in the face of external challenges.

The Chinese people’s well-being continues to improve. More than 70% of government fiscal expenditure is devoted to public welfare. China has built the world’s largest education, social security, and healthcare systems. Employment remains stable: from 2021 to 2024, the surveyed urban unemployment rate stayed between 5.1% and 5.5%. The social security system continues to improve, with participation rates in basic pension insurance and basic medical insurance both exceeding 95%.

The 15th Five-Year Plan outlines new arrangements for carrying forward the two miracles and advancing Chinese modernization. The major objectives for the 15th Five-Year Plan period are significant advancements in high-quality development, substantial improvements in scientific and technological self-reliance and strength, fresh breakthroughs in further deepening reform comprehensively, notable cultural and ethical progress across society, further improvements in quality of life, major new strides in advancing the Beautiful China Initiative, and further advances in strengthening the national security shield. By 2035, China’s per capita GDP is expected to be on a par with that of a mid-level developed country.

In this context, what is the secret behind China’s remarkable development? In my view, there are three main reasons, which will continue to be highly relevant during the 15th Five-Year Plan period.

Firstly, sound, democratic, and law-based decision-making. The well-conceived formulation and consistent implementation of five-year plans is an important strength of socialism with Chinese characteristics. Through consecutive five-year plans, China ensures continuity in its modernization process. During the drafting of the 15th Five-Year Plan, more than 3.11 million suggestions were submitted online, and 2,112 proposals were collected from various regions, departments, and institutions. A total of 21.4% of the feedback was incorporated into the final version. In this way, the plan presents not only a blueprint for national development but also a vision for a better life for every citizen. In addition, by implementing strategies that promote coordinated regional development, China has gradually formed a regional economic layout featuring optimized functions, complementary advantages, and high-quality development, providing strong momentum for Chinese modernization.

Secondly, fully leveraging the two engines of development, i.e. innovation and green transformation. China has become a major player in these fields. During the 15th Five-Year Plan period, China will continue integrating scientific and technological innovation with industrial innovation, and accelerating the development of new quality productive forces. China will intensify efforts in original innovation, secure breakthroughs in key core technologies, and move faster toward high-level scientific and technological self-reliance. China will advance digital development, fully implement the AI Plus Initiative, and lead paradigm-shifting scientific research through artificial intelligence. China will also pursue intelligent, green, and integrated development in the building of a modern industrial system, upgrade traditional industries such as chemicals, machinery, and shipbuilding, and nurture emerging industries and industries of the future such as new energy, new materials, quantum technology, and 6G.

Thirdly, promoting high-standard opening-up. China relies on opening-up in advancing reform and development, and intends to share opportunities and pursue common development with the world. China works hard to align itself high-standard international economic and trade rules and promote the innovative development of trade. The China International Import Expo (CIIE)—the world’s first national-level exhibition dedicated to imports—has become a gateway for the world to enter the Chinese market. The recently concluded 8th CIIE attracted the participation of 155 countries, regions, and international organizations, and 4,108 overseas companies. Intended deal value reached USD 83.49 billion, up 4.4% year-on-year. And 461 new products, technologies, and services were unveiled. Cyprus has participated in the event for eight consecutive years, with its juices, wines, and other products well received by Chinese consumers.

China has also continued to expand two-way investment, reducing the negative list for foreign investment access from 190 to 29 items. It has carried out high-quality Belt and Road cooperation with more than 150 countries and 30 international organizations, including Cyprus, and advanced both major signature projects and “small and beautiful” public wellbeing projects, delivering tangible benefits to the people.

For more than 70 years, China has adhered to one blueprint and seen it through. Importantly, China has never sought to challenge or replace anyone. Instead, it has focused on running its own affairs well, constantly improving itself, and sharing development opportunities with the world. With solid fundamentals, multiple strengths, great resilience, and big potential, China is fully capable of addressing various internal and external challenges. Going forward, China will continue to serve as an anchor of stability and engine of growth for the global economy.