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How did the world’s second-largest economy perform in the past year? What are its major development goals and policy directions for 2025? In the latest episode of China Economic Roundtable, an all-media talk show hosted by Xinhua News Agency, guest speakers shared insights on the nation’s commitment to achieving its growth target while advancing high-quality development.

STEADY PROGRESS AMID CHALLENGES

China’s GDP expanded by 5 percent last year to 134.9 trillion yuan (about 18.8 trillion U.S. dollars) and contributed about 30 percent to global economic growth, according to the government work report.

Huang Lianghao, an official with the Research Office of the State Council, described the achievements as “hard-won and extraordinary.”

“China promoted growth within a reasonable range and effectively improved the quality of its economy,” noted Huang, also a member of the drafting group for the government work report, highlighting a 3.4-percent reduction in carbon emissions per GDP unit.

“In 2024, China’s economy demonstrated resilience and the effectiveness of overall reform,” said national lawmaker Yuan Yuyu, chairman of Medprin Regenerative Medical Technologies Co., Ltd., a Guangzhou-based biotech firm.

Last year, the number of newly established business entities in China exceeded 20 million.

“The rapid development of enterprises vividly reflects the advancement of the country’s high-quality development and the steady growth of new quality productive forces,” noted Yuan.

STRATEGIC REFORMS FOR SUSTAINED GROWTH

As 2025 marks the final year of China’s 14th Five-Year Plan (2021-2025), experts believe that the around-5-percent growth target proposed in the government work report balances what is needed and what is possible.

Huang emphasized the target’s alignment with employment stabilization, risk prevention, and the country’s development goals through 2035.

“It not only demonstrates the government’s precise grasp of the general principle of pursuing progress while maintaining stability amid a complex economic environment, but also conveys a profound strategic consideration for medium- and long-term high-quality development,” said national political advisor Jin Li, vice president of Southern University of Science and Technology.

Huang expressed confidence in China’s economic fundamentals despite external pressures, citing positive factors such as burgeoning technological breakthroughs and expanding domestic demand.

Regarding employment, the report sets a goal of creating over 12 million new urban jobs and an around-5.5-percent surveyed urban unemployment rate. Huang underscored reforms in vocational training to address structural labor mismatches, while Jin stressed educational reforms to cultivate talent for emerging industries.

Yuan advocated for deeper industry-academia collaboration: “Universities hold talent resources while enterprises possess application scenarios. Bridging them will accelerate technological breakthroughs.”

PEOPLE-CENTERED POLICY ORIENTATION

More funds and resources will be used to serve the people and meet their needs, according to the government work report. China will raise the minimum basic old-age benefits for rural and non-working urban residents by 20 yuan and ensure an appropriate increase in the basic pension benefits for retirees. It will also continue to deepen the reform of public hospitals to better serve the public interest.

Highlighting healthcare commitments, Yuan said as health has become increasingly significant to the people, companies have the responsibility to provide more innovative products, drugs and medical apparatus and lower the costs to meet the people’s needs.

The government also plans 300 billion yuan in ultra-long special treasury bonds to support consumer goods trade-in programs.

“The concerns of the public are the key issues highlighted in the government work report. It proposes various measures to benefit the people and enhance their well-being,” said Huang.

Here, towering ice structures mimicking landmarks from across Asia, cheers from super-long ice slides, and the breathtaking view from a giant Ferris wheel attracted over 610,000 visitors during this year’s eight-day Spring Festival holiday, which ended Tuesday.

Near the entrance of the Harbin Ice-Snow World, an iconic winter attraction, a row of giant red characters stands out: “Snow and ice are also valuable assets.”

This statement, first made by Chinese President Xi Jinping about nine years ago, has reshaped the country’s ice-and-snow sector and spurred the stellar growth of related industries.

In March 2016, when taking part in a group discussion with Heilongjiang lawmakers at the annual national legislative session, Xi stressed the importance of leveraging the province’s winter resources. “Clear waters and green mountains are valuable assets, and so are Heilongjiang’s ice and snow,” he said.

Bordering frigid Siberia, Heilongjiang is known for its freezing temperatures and ample snowfall in winter. With winter temperatures sometimes dropping below minus 30 degrees Celsius, the provincial capital Harbin is dubbed China’s “ice city.”

Guided by Xi’s vision, the province has made sustained efforts to turn itself into a world-class winter tourist destination. Last year, Harbin alone welcomed 179 million visitors, with tourism revenue reaching 231.42 billion yuan (about 32 billion U.S. dollars), both rising over 30 percent year on year.

The 9th Asian Winter Games, set to open here on Friday, presents the latest opportunity to cement Harbin’s “ice city” reputation. Notably, winter sports and tourism are also gaining momentum across China.

Driven by policy support and increased demand, the number of ice-and-snow tourists in China is expected to reach 520 million in the 2024-2025 winter season, with revenue likely to exceed 630 billion yuan, according to the latest report by the China Tourism Academy.

300 MILLION PEOPLE IN WINTER SPORTS

Xi has identified China’s ice-and-snow sector as both a key economic driver and a vital means of promoting public fitness. A passionate sports enthusiast, he closely follows the development of winter sports.

The primary goal of hosting the Beijing 2022 Winter Olympics was to “engage 300 million people in ice-and-snow sports” and promote the leapfrog development of winter sports in the country, Xi told International Olympic Committee President Thomas Bach in 2014.

Before Beijing 2022, he conducted five on-site inspections across different competition zones in Beijing and the adjacent Hebei Province, meeting with athletes, construction workers and venue operators.

“The ultimate goal of building a sporting powerhouse and a healthy China is to strengthen the people’s fitness, which is also an essential part of China’s endeavors to build a modern socialist country in all respects,” Xi said.

The goal of “300 million people in winter sports” is now a reality, thanks to the promotion and popularization of ice-and-snow sports.

“This year, our facility has seen a greater number of people hitting the ice, with a year-on-year growth of about 15 percent,” said Meng Qingyou, who teaches skating at a winter sports center in Harbin.

Across the province, well-equipped facilities and professional coaching at ski resorts have drawn in new entrants from across the country.

In the city of Shuangyashan, a popular ski resort offers 14 trails of varying difficulty levels, catering to both novices and seasoned ski enthusiasts.

“This is my first time skiing,” said Zhao Dezhou, a tourist from east China’s Jiangsu Province. “At first, I was really nervous, but with the coach’s patient guidance, I can now glide freely across the snow and fully enjoy the thrill of this winter sport!”

Even in snow-scarce regions of the country, more people are embracing indoor ice-and-snow sports. According to a recent industry report, six of the world’s top 10 indoor ski resorts are in China, located in cities such as Shanghai, Guangzhou and Chengdu.

ICE-AND-SNOW ECONOMY

Beiji Village is nestled at the northernmost tip of China in the city of Mohe, Heilongjiang. As one of the coldest villages in China, Beiji endures an average temperature of below zero for over seven months a year.

This agricultural and fishing village was named a national top-level scenic spot in 2015, attracting an increasing number of visitors to experience its unique scenery and extreme cold.

“The tourism resources here are truly exceptional,” said Xi at the village during an inspection tour in September 2023. He stepped into villager Shi Ruijuan’s homestay and talked with the locals.

Noting the importance of the tourism sector in achieving high-quality development, Xi urged policy support to ensure that the distinctive snow-and-ice resources generate more income for local people.

In the past, the harsh cold and remote location drove many locals to leave Beiji. Nowadays, however, the very same factors are drawing tourists from far and wide. With ice-and-snow tourism gaining popularity in recent years, ice skating, skiing and fun activities like splashing water to create ice crystals have become big draws of the village.

“Tourists used to come mainly in summer, but now we get plenty of visitors in winter too,” said Shi, adding that she had never expected the bitter cold to become a major tourism attraction.

Shi has run the homestay business for more than a decade. “Previously, it was hard to make even 10,000 yuan a year. Now, we have visitors all year round, and during peak season I can earn over 10,000 yuan in just a week,” she said.

With its booming ice-and-snow tourism, northeast China as a whole has gained fresh appeal. Once known as the country’s rustbelt, the region has long struggled with a painful economic transition and talent outflows.

“Revitalizing northeast China” has been a recurring theme evident in Xi’s multiple inspection tours. In 2023, he stressed efforts to focus on developing the ice-and-snow economy as a new growth driver by promoting a full industrial chain of ice-and-snow sports, culture, equipment and tourism.

Under Xi’s guidance, the ice-and-snow boom has spread from northeast China to the entire country, fostering a new national growth engine.

Located in northwest China’s Xinjiang, Altay Prefecture is developing its reputation as a top skiing destination. In the 2023-2024 snow season, Altay welcomed about 4.89 million tourist visits, with tourism revenue totaling 5.1 billion yuan. It drove about half of the growth in terms of both tourist visits and revenue in Xinjiang last season.

Southwestern provinces, such as Yunnan and Sichuan, are also leveraging their unique plateau ice-and-snow resources, as well as their proximity to Southeast Asia, to attract tourists.

Peng Fuwei, a senior official of the National Development and Reform Commission, noted that the sector has formed a “dual-engine” structure, with winter manufacturing and services leading the way.

“China now produces a comprehensive range of winter sports equipment, from personal gear to high-end snowmaking machines and snow groomers. In 2023, winter equipment sales reached about 22 billion yuan,” he said.

The country aims to boost its ice-and-snow economy as a new source of growth, targeting an economic scale of 1.2 trillion yuan by 2027 and 1.5 trillion yuan by 2030, according to guidelines released by the State Council last year.

Xi made the remarks at a welcome banquet ahead of the opening ceremony of the Games in Harbin, capital city of northeast China’s Heilongjiang Province.

He called on Asia to hold fast to the common dream of peace and amity, jointly respond to all sorts of security challenges, and contribute to building an equal and orderly multipolar world.

Xi also stressed the shared pursuit of prosperity and development, calling on Asian people to seek common progress and inject impetus into economic globalization.

To realize the common wish of integration and affinity, Xi called for promoting inclusive coexistence, exchanges and mutual learning among different civilizations in Asia.

The growth of ice and snow tourism has transformed how Chinese people perceive and experience winter, according to Dai Bin, president of the China Tourism Academy, who shared his views during the latest episode of the China Economic Roundtable, an all-media talk show hosted by Xinhua News Agency.

In the past, particularly in northeast China, where bitter winter temperatures are the norm, people tended to stay indoors during the cold months. However, a noticeable shift is occurring as more people now embrace outdoor activities during winter.

Many people are flocking to Harbin, the capital of China’s northernmost province of Heilongjiang, which is renowned for its abundant snowfall and stunning ice sculptures, to immerse themselves in the icy atmosphere.

Research by the tourism academy projects that over 500 million people will participate in ice and snow tourism during the peak season in 2024-2025, driving consumption by more than 600 billion yuan (about 83.7 billion U.S. dollars), said Dai.

The passion for ice and snow sports has also ignited, noted Ai Yu, an official with the General Administration of Sport of China. The scope of people participating in winter sports has extended beyond traditional northern regions; additionally, winter sports have now shifted from winter-only activities to year-round offerings that are accessible both indoors and outdoors, Ai highlighted.

Regions with rare snowfall are also capitalizing on the trend, as winter wonderlands created by artificial snow are popping up in southern China to meet growing demand, Dai added.

China aims to boost its ice and snow economy as a new growth sector, targeting an economic scale of 1.2 trillion yuan by 2027 and 1.5 trillion yuan by 2030, according to guidelines issued by the General Office of the State Council in November 2024.

The annual Central Economic Work Conference, held in December last year, also called for active efforts to develop the country’s ice and snow economy.

Tourists are now more willing to pay for leisure and cultural activities related to ice and snow tourism, said Dai Bin, president of the China Tourism Academy, at the latest episode of the China Economic Roundtable, an all-media talk show hosted by Xinhua News Agency.

Dai said that various new business models are arising from the thriving industry. “Once tourists arrive at their destinations, they look for accommodation, dining options and interactions with locals. What attracts them most is often the unique folk customs and cultural heritage of the region.”

Harbin, China’s northernmost provincial capital, exemplifies the country’s thriving ice and snow economy. During the eight-day Spring Festival holiday that concluded on Tuesday, Harbin Ice-Snow World attracted over 610,000 visits. This ice theme park, featuring dazzling ice sculptures, saw more than 100,000 visits on Feb. 1, setting a new record for daily attendance compared to previous years.

In addition to Harbin, various new ice and snow tourism attractions have emerged across Heilongjiang Province. These include the snow-covered forests of Yichun, one of China’s most forested cities, winter birdwatching in Qiqihar, where native red-crowned cranes can be spotted, and aurora viewing in Mohe, near the China-Russia border, according to Qi Bin, deputy director of the Heilongjiang provincial department of culture and tourism.

Peng Fuwei, an official with the National Development and Reform Commission, China’s top economic planner, said that China has established a dual manufacturing-service model to develop its ice and snow economy. According to Peng, the country can now produce 15 kinds of ice and snow sports equipment, ranging from snowboards to snow-making machines.

In ice and snow services, Peng said multiple sectors flourish simultaneously, including competitions and performances, catering and accommodation, winter sports training, and leisure tourism.

Looking ahead, Peng said that the central budget will continue to support the construction of public service facilities for eligible ice and snow sports and tourism. Also, qualifying ice and snow tourism equipment will receive support through ultra-long special treasury bonds for equipment upgrades.

According to China’s national blueprint for the ice and snow economy, the industry is expected to play a greater role in expanding employment and promoting high-quality development by 2030. Ice and snow consumption will be a key growth driver for domestic demand.

By then, several high-quality destinations for ice sports and tourism will be established, and the total scale of the ice and snow economy is projected to reach 1.5 trillion yuan (about 209.2 billion U.S. dollars), the document says.

During the eight-day-long Spring Festival holiday that ended Tuesday, over 610,000 trips were made to the park. Daily trips on Saturday exceeded 100,000, setting a new record for single-day attendance. Since opening its doors this season, the park has received over 2.66 million visits.

The ice and snow tourism fervor is not limited to Harbin, but palpable nationwide. With its ambitious plans and growing public enthusiasm, China’s winter economy is poised to become a cornerstone of its cultural and economic landscape, experts noted in the latest episode of the China Economic Roundtable, an all-media talk show hosted by Xinhua News Agency.

Embrace the winter

The increasing popularity of Harbin Ice-Snow World is partly attributed to the city’s upcoming role as the host of the 2025 Asian Winter Games, marking China’s second major winter sports event following the Beijing 2022 Winter Olympics.

Ai Yu, a senior official of the General Administration of Sport of China, noted that the success of the Beijing 2022 Winter Olympics has reshaped China’s relationship with winter sports, and transformed the landscape of ice and snow activities across the country.

Public enthusiasm for winter sports has surged, extending far beyond traditional hubs such as Heilongjiang. The trend is now moving southward, westward, and eastward, with activities no longer limited to winter but available year-round, both indoors and outdoors, Ai said.

Dai Bin, president of the China Tourism Academy, highlighted the role of technology and investment in promoting winter sports, with artificial snow and ice facilities making winter sports accessible even in the warmest regions.

A survey from the academy showed more than 70 percent of the respondents are willing to engage in winter leisure activities, with over 60 percent planning to maintain or increase their spending on winter tourism. The 2024-2025 winter season is expected to attract some 520 million trips, generating over 630 billion yuan (about 87.87 billion U.S. dollars) in tourism revenue.

Winter has evolved from a season of dormancy to one of vibrant activities, Dai noted. “In the past, winter meant freezing temperatures and a pause in daily life. Now, people embrace the cold and explore northern regions.”

More than just fun

China’s winter economy is not just about sports and tourism; it’s also driving significant growth in manufacturing and services, experts said.

Peng Fuwei, a senior official of the National Development and Reform Commission, noted that the industry has formed a “dual-engine” structure, with winter manufacturing and services leading the way.

“China now produces a comprehensive range of winter sports equipment, from personal gear to high-end snowmaking machines and snow groomers. In 2023, winter equipment sales reached about 22 billion yuan,” he said.

Related service sectors are also thriving, with winter sports fueling growth in areas like event hosting, catering, accommodation, and training.

Heilongjiang, for example, has developed cutting-edge technologies like multi-robot ice sculpting and has established itself as a hub for testing and refining automobiles under extreme cold conditions. “Thanks to robotics, our ice sculptures are built faster and more efficiently,” said Qi Bin, deputy director of Heilongjiang’s culture and tourism department.

New cultural experiences, such as snowfield hot springs and concerts, are also emerging, further enriching the winter tourism ecosystem, Dai observed.

To make the snowball bigger

Seeking to leverage its vast ice and snow resources to drive economic growth, China is doubling down on its commitment to expanding its winter economy, which encompasses sports, culture, equipment, and tourism.

The sector has already reached a trillion-yuan scale, and the country aims to grow it to 1.2 trillion yuan by 2027 and 1.5 trillion yuan by 2030, according to an official guideline released in 2024.

To achieve these goals, the government is integrating winter sports and tourism into its national development plans.

“We will continue to support the industry through policies, funding, and infrastructure development,” Peng said, adding that key regions in places including Heilongjiang and Xinjiang will receive targeted support to become world-class winter sports destinations.

There are also plans to sustain the momentum of winter sports participation, expand their reach, and integrate sports events with tourism, according to Ai.

To further tap the industry’s potential, Dai called for extending the winter industry’s value chain. This includes combining winter equipment with personal gear and creating new travel routes, all in a bid to build a robust ecosystem for the winter economy.

Ultimately, the goal is to make winter sports and tourism an integral part of people’s lives, Dai added. “When people fall in love with winter activities, the foundation for a thriving winter economy will be firmly established.”

When meeting with Sam, Xi said the central government will fully support the chief executive and the Macao SAR government in fulfilling their duties.

Noting that the governance team of the sixth-term Macao SAR government is young and energetic with high morale, Xi expressed confidence that they will bear in mind their oath, fulfill their mission, be accountable to both the country and Macao, and deliver outstanding results that will make the nation, Macao and themselves proud.

Brazilian senior officials bid farewell to Xi at the airport.

On the way to the airport, representatives of overseas Chinese, Chinese institutions and students waved the national flags of China and Brazil on both sides of the road, congratulating Xi on the complete success of the visit.

The announcement, made during Xi’s state visit to Brazil, was further bolstered by the leaders’ commitment to align the China-proposed Belt and Road Initiative (BRI) with Brazil’s development strategies.

MUSICAL PRELUDE TO FRIENDSHIP

The warmth of China-Brazil relations was on full display during a grand welcoming ceremony hosted by Lula on Wednesday.

The ceremony featured a deeply touching moment: a Brazilian singer performed the iconic Chinese song My Motherland in the Chinese language.

It was a reciprocal gesture. When Lula visited China last year, the Chinese side played the Brazilian song Novo Tempo, or A New Time in English, at the welcoming ceremony.

Both songs carry profound significance in their respective nations. My Motherland, an ode to the Chinese people’s enduring resilience and love for their country, resonates deeply with the Chinese people, while Novo Tempo, with its hopeful lyrics about a brighter future, symbolizes Brazil’s aspirations for progress and renewal even in difficult times.

The choice of the two songs underscores a deep understanding between the two countries: they recognize and honor what each holds most dear.

During his meeting with Lula, Xi said he was deeply touched by the great importance Lula attaches to the China-Brazil relations and his deep friendship toward the Chinese people, as reflected by the grand welcoming ceremony of the highest courtesy accorded to Xi.

Brazil and China are good friends that respect and depend on each other, said Lula at the meeting, adding that China is Brazil’s most important strategic partner, and the Chinese people are the most trustworthy friends of the Brazilian people.

Xi’s visit to Brazil, his fifth to the South American nation, comes as the two major developing countries celebrate five decades of diplomatic relations.

During the meeting, Xi emphasized the deep ties forged over the past half-century, noting the two sides found a right way for major developing countries to get along with each other, one that is based on mutual respect, mutual benefit, amity and win-win cooperation.

Brazil holds a unique place in China’s global partnerships. It is the first country to establish a strategic partnership with China. It is also the first nation in Latin America to enter into a comprehensive strategic partnership with China.

For Julio Bandeira, author of the historical book “Brazil en Route to China,” the Brazilian people have a long history of loving Chinese culture and being close to the Chinese people.

“Today, the overseas Chinese in Brazil have also made great contributions to the Brazilian economy and society,” he said.

SYNERGIZING DEVELOPMENT STRATEGIES

At the heart of the leaders’ discussions was a commitment to align the BRI with Brazil’s key development strategies. These strategies aim to modernize Brazil’s infrastructure and strengthen regional connectivity, goals that echo the BRI’s mission of enhancing global trade and development through shared infrastructure.

The two sides should deepen cooperation in priority areas such as economy and trade, finance, science and technology, infrastructure and environmental protection, and strengthen cooperation in emerging fields such as energy transition, the digital economy, artificial intelligence and green mining, Xi said when jointly meeting the press with Lula after their talks.

Lula, for his part, highlighted plans to focus on expanding and deepening cooperation in areas such as sustainable development, infrastructure, finance, energy transition, and aerospace.

Concrete projects are already underway. For example, the Belo Monte UHV transmission project, which creates an “electricity expressway” linking north and south of Brazil, has not only provided adequate power to industrial hubs there, but also solved the power shortage problem for over 22 million Brazilians.

Meanwhile, Brazil’s abundant renewable resources, including hydroelectric, solar, and wind energy, align seamlessly with China’s expertise in clean energy technology and manufacturing.

Over the past years, Chinese companies have been actively participating in Brazil’s renewable energy sector, particularly in large-scale solar and wind projects, contributing to job creation and technological upgrades in the country.

In a signed article published in Brazilian media ahead of his visit, Xi called on both countries to “seize the opportunities offered by the times” as the new sci-tech revolution and industrial transformation gather pace.

“We should foster more exemplary projects that align with the trend of the times and deliver lasting benefits to the people, and contribute to the common development of our countries and regions,” Xi wrote.

Gleisi Hoffmann, president of Brazil’s Workers’ Party, highlighted the steady growth of economic and trade relations between Brazil and China over the past 50 years. She noted that the partnership has not only met the needs of both nations but also leveraged their respective strengths to create complementary cooperation.

In recent years, she said, China has achieved remarkable progress in areas such as technology, education, and health. Looking ahead, Hoffmann expressed confidence in the potential to deepen collaboration in these fields, envisioning a future marked by what she described as a “new golden 50 years.”

China is promoting high-quality development with new quality productive forces, said Mayara Araujo, a researcher from Brazil’s Fluminense Federal University, referring to advanced productivity that features high-tech, high efficiency and high quality.

Linking Brazil’s development strategies with the BRI will bring more new opportunities to improve and upgrade cooperation between the two countries, said Araujo.

STRENGTHENED VOICE FOR GLOBAL SOUTH

The elevation of China-Brazil ties to a community with a shared future for a more just world and a more sustainable planet came shortly after the 19th G20 Summit held in Rio de Janeiro, Brazil.

With the theme “Building a just world and a sustainable planet,” this G20 summit offered a vital platform for leaders to address urgent global challenges, including hunger, economic inequity, and climate change.

After calling on Monday for a just world of common development and a fair and equitable global governance system, Xi on Wednesday called on both countries to step forward for world peace and justice.

The two sides should practice true multilateralism, speak up and act for justice, and make global governance more just and equitable, Xi said during his meeting with Lula.

As major developing countries, China and Brazil should take the lead in championing discussion and consultation, promoting global solidarity, and jointly tackling global challenges that affect the future of humanity, Xi added.

Brazil and China are both committed to expanding the participation of developing countries in the decision-making processes of international organizations, said Evandro Menezes de Carvalho, professor at Brazil’s Getulio Vargas Foundation.

Moreover, their collaboration within mechanisms such as BRICS demonstrates how they can unite around shared goals and translate that solidarity into concrete actions with substantial impact, said the expert, noting that it is precisely for this reason that an increasing number of developing countries are eager to join these institutions.