China's economy 'stable in pace, rising in new momentum', expert says

China's economy remains generally stable this year, but what deserves greater attention is the new growth momentum that is accelerating, said Wang Wei, former director of the Institute of Market Economy at the Development Research Center of the State Council.

"China's economic growth is showing a trend of being stable in pace but rising in new and upward momentum. This is very positive," Wang said during a recent exclusive interview with China Perspective.

China's economic performance held steady in October amid headwinds and uncertainties, with industrial production reporting stable growth, driven by strong performances in equipment manufacturing and high-tech sectors, official data showed on Friday.

She noted that China's vast market, large population, and diversified consumer demand are fueling new drivers of growth, as digital, green, services, and inbound consumption expand rapidly.

On the macroeconomic policy front, Wang said she expects China's fiscal policy to remain proactive, while monetary policy needs to shift further toward supporting innovation.

Looking ahead to the upcoming 15th Five-Year Plan (2026–30) period, Wang expects China's economy to remain on a steady growth trajectory, powered increasingly by domestic demand and consumption.