China's economy expanded 5 percent year-on-year in 2025, surpassing the 140 trillion yuan ($20.4 trillion) threshold for the first time and remaining the world's second-largest economy, official data showed on Saturday.

The country's gross domestic product reached 140.19 trillion yuan in 2025, according to the annual statistical communique released by the National Bureau of Statistics. And the country's gross national income rose 5.1 percent to 139.37 trillion yuan last year.

Last year, final consumption expenditure contributed 2.6 percentage points to GDP growth, with gross capital formation and net exports of goods and services contributing 0.8 percentage points and 1.6 percentage points, respectively.

"With GDP expanding 5 percent year-on-year in 2025, China's economy exceeded 140 trillion yuan for the first time, successfully accomplishing the preset annual growth target," Sheng Laiyun, deputy head of the NBS, said in a statement accompanying the release of the data.

He noted that during the 14th Five-Year Plan (2021-25) period, China's economy consecutively surpassed the 110 trillion yuan, 120 trillion yuan, 130 trillion yuan, and 140 trillion yuan milestones.

"As the size of China's economy continues to expand, last year's 5 percent growth rate corresponds to an economic increment of more than 5 trillion yuan," Sheng said. "The new breakthrough in total output reflects the renewed improvement in industrial and agricultural production capacity and the further unleashing of vitality in the services sector."

"It underscores China's solid foundation, multiple advantages, strong resilience, and vast potential."

According to Sheng, in a global comparison, China's 5 percent growth rate ranked among the top major economies. "China is estimated to have contributed around 30 percent to world economic expansion, continuing to act as the largest contributor and a key stabilizing anchor for global growth. China remains the world's second-largest economy, accounting for roughly one-sixth of global output."

Data from the annual statistical communique showed that expenditures on research and development rose 8.1 percent year-on-year to 3.93 trillion yuan in 2025, accounting for 2.8 percent of GDP. Within that, spending on basic research increased 11.1 percent to 277.8 billion yuan, accounting for 7.08 percent of total R&D expenditure.