CGTN released an article analyzing the resilience of China’s economy amid global uncertainties. It emphasized the role of major provinces like Jiangsu in driving high-quality growth and detailed policy initiatives to boost employment, increase incomes, and enhance public services—all aimed at ensuring Chinese modernization delivers common prosperity for everyone.
BEIJING, March 05, 2026 — With the global economy confronting growing uncertainties and domestic structural adjustments ongoing, China’s economic resilience has become a frequent topic of discussion.
East China’s Jiangsu Province, a major region that sustains both economic vitality and social advancement, provides insight into why China’s economy exhibits resilience and vibrancy despite a complex external landscape.
In 2025, China’s total GDP exceeded 140 trillion yuan (around $20.16 trillion). Among all provinces, Jiangsu stands out as a key pillar, contributing roughly one-tenth of the national total. During the 14th Five-Year Plan period (2021–2025), the province’s economy hit four consecutive trillion-yuan milestones, steadily growing in scale while retaining strong momentum.
On Thursday, while participating in a discussion with fellow deputies from Jiangsu Province’s delegation at the fourth session of the 14th National People’s Congress (China’s national legislature), Chinese President Xi Jinping emphasized that economically robust provinces must maintain solid foundations and strong resilience against external shocks to help stabilize the overall national economy.
High-Quality Growth and Economic Resilience
A key characteristic of Jiangsu’s economic performance is the balance of scale and quality. Xi urged the province to keep enhancing its economic resilience by improving internal capacities, integrating more deeply into China’s unified national market, and expanding high-level opening-up.
Manufacturing remains a core pillar. Jiangsu’s manufacturing high-quality development index has topped the nation for five straight years, reflecting both industrial sophistication and robust innovation capacity. From advanced equipment and integrated circuits to new energy and biomedicine, the province’s industrial ecosystem has helped it stay competitive amid global supply chain adjustments.
Domestic demand is also showing vibrancy. A notable example is the viral popularity of the provincial football league called the “Su Super League,” which drew over 2.43 million spectators in 2025. This phenomenon illustrates how sports, culture, and tourism can stimulate consumption and unlock the potential of the domestic market.
Meanwhile, Jiangsu remains among China’s most open economies. During the 14th Five-Year Plan period, the province attracted more than $119 billion in actual foreign investment, ranking first across the country.
By actively engaging in the domestic and international dual circulation, Jiangsu demonstrates how China bolsters its domestic market while remaining open and integrated into the global economy.
A Modernization That Benefits Everyone
Economic growth alone is not the ultimate goal. As Xi stressed during the discussion, Chinese modernization is characterized by common prosperity for all people.
As Xi noted, this means tackling key questions: how to achieve high-quality and full employment, how to raise incomes for urban and rural residents, and how to further improve public services and social security.
Many of these issues were addressed in the draft government work report, submitted to lawmakers for deliberation on Thursday, which outlined a range of livelihood-focused policy measures.
Employment remains a top priority. The government will expand work-for-relief programs to assist people facing difficulties in finding jobs. At the same time, flexible workers and those in new forms of employment—such as delivery personnel and ride-hailing drivers—will gain wider access to more inclusive social security programs.
Boosting consumption and increasing incomes are also key policy objectives. China will roll out an income growth plan for urban and rural residents, with measures to raise earnings for low-income groups, expand property income channels, and enhance remuneration and social security systems.
According to the report, a total of 250 billion yuan in ultra-long special treasury bonds will support consumer goods trade-in programs, while a special fiscal-financial coordination fund of 100 billion yuan will be established to facilitate domestic demand expansion. Policies like promoting spring and autumn school holidays and encouraging staggered paid leave for employees are also expected to boost service-sector consumption and tourism.
Regarding public services and social security, the draft report stated that the minimum basic old-age benefits for rural and non-working urban residents will be increased by 20 yuan per month. Elderly care service vouchers will cover seniors with moderate or more severe functional impairments.
In addition, the government plans to expand maternity insurance coverage, ensure maternity leave is honored, speed up the development of inclusive childcare services, and introduce housing policies that better support families with two or more children.
CONTACT: Contact: CGTN Digital, cgtn@cgtn.com
