Global Times | Foreign financial firms increasingly upbeat on China's economic outlook amid support policies
Multiple financial institutions are turning more upbeat about China's economic prospects, as the recommendations of China's top leadership for formulating the country's 15th Five-Year Plan have sent out a positive signal about the high-quality development of the world's second-largest economy while boosting confidence in the global economy.
In the next five years, China's economic growth rate will lay the groundwork for per capita GDP levels in 2035 effectively doubling its 2020 level at constant prices, according to a note Standard Chartered sent to the Global Times on Tuesday.
The bank projected that China will continue to maintain positive fiscal policies to support economic transition.
From Tuesday to Wednesday, over 2,300 investors, corporate clients and thought leaders from around the world will convene at the 20th Annual Citi China Conference held in Shenzhen, South China's Guangdong Province, according to a press release sent to the Global Times.
"This is the first time that Citi has presented the Conference in this all-encompassing format in China and it represents the significance of the Chinese market and our commitment to clients here. We are well-positioned to support the strategic needs and aspirations of Chinese companies going global, as well as multinational corporations growing in China," said Zhang Wenjie, president of Citibank China.
Goldman Sachs recently raised its forecasts for both China's export growth and GDP growth rates.
"We forecast Chinese export volumes to grow by 5-6 percent annually, gaining global market share and driving overall economic expansion in the next few years. For 2025, we are increasing our real GDP growth forecast from 4.9 percent to 5.0 percent," it said, citing the country's key meeting recently and acceleration in government spending.
China posted steady prices in October, as warming consumer sentiment and increasing domestic demand continued to drive economic growth, official data showed on Sunday.
The consumer price index (CPI), a main gauge of inflation, was up 0.2 percent year-on-year in October 2025, data from the National Bureau of Statistics showed.
"We are fully confident in China's economic prospects," Frank Hammes, CEO of Swiss air purification company IQAir, told the Global Times in a recent interview.
He said China's commitment to high-level opening-up will provide a stable and predictable environment for the development of foreign enterprises, while the country's firm investment in areas including green transition, tech innovations and sustainable development will bring new growth opportunities for enterprises.
The eighth China International Import Expo concluded on Monday, having recorded $83.49 billion in one-year intended deals - up 4.4 percent from the previous edition and hitting a new high, which underscores the attractiveness of the massive Chinese market.
China remains a major engine of global economic growth. Over the past five years, despite headwinds such as the COVID-19 pandemic and shocks to global trade, China's economy has maintained an average annual growth rate of about 5.5 percent, the Xinhua News Agency reported.
In the first three quarters of 2025, China's GDP expanded by 5.2 percent year on year. By the end of the year, the country's total economic output is projected to reach around 140 trillion yuan ($19.76 trillion), according to the report.
"China's economy will continue to be successful in the next five years," John Ross, former director of Economic and Business Policy for the Mayor of London, told the Global Times in a recent interview.