Xi Jinping, President of China. /Ministry of Foreign Affairs

Chinese President Xi Jinping said that it is necessary to prepare for and mitigate risks and external shocks in key areas so that the economy can continuously recover.

According to the state-run Xinhua News Agency on the 27th, President Xi made this remark during a speech at the '2025 Spring Festival New Year's Greeting' held at the Great Hall of the People in Beijing on the morning before China's biggest holiday, the Spring Festival.

President Xi reflected, saying, “The soon-to-pass Year of the Wood Dragon has inspired our spirit of the dragon and horse, having gone through storms and rainbows. Over the past year, we faced complex and harsh situations calmly, implemented comprehensive policies, overcame difficulties, and encouraged progress.”

He also noted that the development process over the past year has been anything but ordinary, and the achievements are encouraging, saying, “Our country remains an important engine of global economic growth.” He emphasized that as the 14th Five-Year Plan comes to an end in 2025, it is essential to deepen comprehensive reforms, expand high-level opening up, and prepare for and address risks and external shocks in key areas to promote sustained economic recovery and improvement.

President Xi also mentioned that in Chinese culture, the snake symbolizes spirituality, wisdom, and vitality, meaning a good harvest, auspiciousness, and blessings. He said, “In the Year of the Snake, may all ethnic groups and people across the country advance and fight with the momentum of a snake running a thousand miles, armed with firm confidence and abundant hope, and together write a new chapter of Chinese-style modernization.”