Beijing, China - March 5, 2025 (CCTV - No access Chinese mainland)
1. Various of press conference in progress, reporters
2. SOUNDBITE (Chinese) Shen Danyang, head of drafting team for Government Work Report/director, State Council Research Office (partially overlaid with shot 3):
"Any economic forecast is essentially a projection based on presumptions, and as such, its outcome often evolves in response to changes in environmental factors, dynamism of macroeconomic policies, and reform measures. This has been the case in previous years as well. Judging from China's development experience and lessons of other nations, whether the development targets can be realized hinges on three key factors: first, the prevailing development trend; second, the available capabilities; and third, the supporting policies. With these elements combined, we are full of confidence in realizing such a growth target for this year."

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FILE: Beijing, China - Date Unknown (CCTV - No access Chinese mainland)
3. Aerial shots of cityscape, traffic
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4. Various of Great Hall of People; flags

Beijing, China - March 5, 2025 (CCTV - No access Chinese mainland)
5. SOUNDBITE (Chinese) Shen Danyang, head of drafting team for Government Work Report/director, State Council Research Office (partially overlaid with shots 6-9):
"China's sci-tech represented by artificial intelligence is drawing global attentions, while cultural tourism and consumer market are also thriving, especially during the Spring Festival, these sectors performed much better than expected. Chinese assets have also seen their prices on a steady upturn recently, and business confidence is being continuously enhanced. Indicators such as the Manufacturing Purchasing Managers' Index (PMI), real estate sales, and container throughput this year all point to a stable and positive trajectory for economic operation."

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Sichuan Province, southwest China - Recent (CCTV - No access Chinese mainland)
6. Statue of Ne Zha on building in scenic area
7. Aerial shot of tourists in scenic area
8. Tourists in scenic area

FILE: Wuyi County, Jinhua City, Zhejiang Province, east China - Date Unknown (CCTV - No access Chinese mainland)
9. Various of robotic arms working, braised beakers in production
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FILE: China - Date Unknown (CCTV - No access Chinese mainland)
10. Various of new energy vehicle (NEV) assembly lines

Beijing, China - March 5, 2025 (CCTV - No access Chinese mainland)
11. SOUNDBITE (Chinese) Shen Danyang, head of drafting team for Government Work Report/director, State Council Research Office:
"Some factors that slowed the growth previously, like the real estate sector, have shown positive changes, and the so-called drag effect on growth is gradually weakening. More importantly, with the reform initiatives outlined in the third plenary session of the 20th (CPC) Central Committee beginning to take effect, the intrinsic momentum and vitality driving economic development will be further unleashed."

FILE: China - Date Unknown (CCTV - No access Chinese mainland)
12. Various of housing model, home buyers
13. Various of customers in shopping mall

Beijing, China - March 5, 2025 (CCTV - No access Chinese mainland)
14. SOUNDBITE (Chinese) Shen Danyang, head of drafting team for Government Work Report/director, State Council Research Office (starting with shot 13):
"By all means, setting the 5 percent growth target for this year is in line with China’s reality and economic development law, and it can be realized. Of course, it is not easy to realize this target, it is inevitable to make arduous efforts."

FILE: Beijing, China - Date Unknown (CCTV - No access Chinese mainland)
15. Aerial shots of cityscape, traffic

China's 5 percent economic growth rate target for this year can be achieved based on a positive economic outlook bolstered by continued upward trend, supportive policies and thriving emerging sectors among others, said Shen Danyang, director of the State Council Research Office Wednesday in Beijing.

Briefing the media at a press conference held by the State Council Information Office after Premier Li Qiang delivered a government work report at the opening of the third session of the 14th National People's Congress, Shen, also a drafter of the report, explained the rationale behind the target and the measures that support its feasibility.

The 5 percent target for 2025 was set on the basis of comprehensive consultations with experts, businesses, and government departments, said Shen, noting that the target is higher than some international forecasts and is based on a careful consideration of various factors and balancing of needs and possibilities.

"Any economic forecast is essentially a projection based on presumptions, and as such, its outcome often evolves in response to changes in environmental factors, dynamism of macroeconomic policies, and reform measures. This has been the case in previous years as well. Judging from China's development experience and lessons of other nations, whether the development targets can be realized hinges on three key factors: first, the prevailing development trend; second, the available capabilities; and third, the supporting policies. With these elements combined, we are full of confidence in realizing such a growth target for this year," Shen said.

Shen highlighted the positive impact of policies introduced by the Political Bureau of the Communist Party of China (CPC) on September 26, 2024, which have played a significant role in driving China's economic recovery.

These incremental policies have helped China meet its 2024 growth target, with the economy posting quarterly growth rates of 4.7 percent in the second quarter, 4.6 percent in the third, and 5.4 percent in the fourth quarter.

Looking ahead, Shen pointed to a number of positive developments for China's economic outlook in 2025, with new industries and technologies playing a crucial role in sustaining the growth.

"China's sci-tech represented by artificial intelligence is drawing global attentions, while cultural tourism and consumer market are also thriving, especially during the Spring Festival, these sectors performed much better than expected. Chinese assets have also seen their prices on a steady upturn recently, and business confidence is being continuously enhanced. Indicators such as the Manufacturing Purchasing Managers' Index (PMI), real estate sales, and container throughput this year all point to a stable and positive trajectory for economic operation," Shen said.

Shen underscored the significant potentials remaining in China's economic development, noting that both domestic and international research institutions believe China's growth could remain near the 5 percent level.

He also highlighted the rapid rise of emerging sectors including new energy vehicles, photovoltaics, and artificial intelligence as drivers of future economic momentum.

Shen stressed the effects of policy reforms introduced during the third plenary session of the 20th CPC Central Committee last July. Despite challenges in the real estate sector, he noted that positive changes are now emerging.

"Some factors that slowed the growth previously, like the real estate sector, have shown positive changes, and the so-called drag effect on growth is gradually weakening. More importantly, with the reform initiatives outlined in the third plenary session of the 20th (CPC) Central Committee beginning to take effect, the intrinsic momentum and vitality driving economic development will be further unleashed," Shen said.

Shen reaffirmed the role of macroeconomic policies in supporting economic growth, noting that the current policy mix remains flexible and responsive to shifting conditions. He said that this year, a more proactive and effective combination of macroeconomic policies, unparalleled in recent years, will be introduced to potently bolster economic growth.

"By all means, setting the 5 percent growth target for this year is in line with China’s reality and economic development law, and it can be realized. Of course, it is not easy to realize this target, it is inevitable to make arduous efforts," Shen said.