

In 2025, China delivered around 5 per cent GDP growth, broadly in line with the official target. Behind this headline, the familiar "property + infrastructure" growth model is giving way to a structure driven more by consumption, exports of high-tech and green equipment, and targeted investment in energy and industrial upgrading. For energy and chemical markets, this is already reshaping where volume is created, where it is eroded, and which product chains face the next round of margin pressure.
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1 | Three drivers of GDP: the old trilogy, new roles
Consumption: policy- and digital-led, not property-led
…and so much more!
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