# real estate slump

China closes the '14th Five' with 5% growth — industrial upgrade and exports bolster a still-fragile recovery

China reported 5.0% real GDP growth in 2025 and declared the goals of the 14th Five-Year Plan achieved, driven by gains in high-tech manufacturing, exports and services. Yet consumption remains tepid, fixed-asset investment — particularly in property — has fallen markedly, and demographic decline and external uncertainty pose medium-term risks.