China's growth moderates mainly due to global cycles, but resilience and opportunity remain, says expert

Justin Yifu Lin, dean of the Institute of New Structural Economics at Peking University, told China Perspective in a recent exclusive interview that China's economy moderated over the past few years mainly due to international cyclical factors, emphasizing that China still has substantial room for growth.

With a per capita GDP below $14,000, the country retains considerable potential for industrial upgrading. "There is significant scope to transform and upgrade traditional industries through intelligent, digital and green technologies," he said, noting that opportunities from the Fourth Industrial Revolution also remain strong.

According to Lin, China's advantages include a large talent pool, a vast domestic market, and abundant application scenarios, as well as the world's most comprehensive manufacturing ecosystem and a highly competitive domestic supply chain.

He added that China has been effective in leveraging well-functioning markets to stimulate entrepreneurial vitality, while the government plays an active role in helping enterprises overcome bottlenecks in technological innovation, industrial upgrading and the development of new quality productive forces.

"As we move toward 2026 and throughout the period of the 15th Five-Year Plan (2026-30), I believe China can continue along its previous development trajectory, raise income levels, and make meaningful contributions to global economic growth," he said.