Europe and China’s economic reorientation

At the last summit of the two sessions in March 2025, China again set an annual growth target of around 5%. Some analysts are questioning these figures1 and even more so the sustainability of such a pace. In fact, the engines of Chinese growth are in crisis: the real estate sector has been in decline for four years now23 and the level of exports, which have reached a record in 20244 , will be unsustainable in 2025 against a backdrop of a general increase in customs duties. The challenge for the authorities is therefore to succeed in offsetting the fall in exports by stimulating domestic consumption. Indeed, maintaining a high growth rate is a major challenge for Beijing, which priority is to preserve economic and social stability.