World Bank Governor's Statement No. 6 - Statement by Min Liao - October 17, 2025

Jul 19, 2026

Upload by Aurelia

World Bank Governor's Statement No. 6 (October 17, 2025) by Min Liao, Alternate Governor of the IBRD for the People’s Republic of China, assesses global economic conditions marked by low growth, high debt, weak investment, and fragmentation. It calls for stronger macroeconomic coordination, deeper structural reforms, and safeguarding the WTO-centered multilateral trading system. The statement outlines China’s economic stability measures, including fiscal support, consumption and employment policies, targeted investment, and a moderately loose monetary stance.

LanguageEnglish

CategoryResearch & Report

FormatPDF

Pages7

Reading Time18 min

Global Economic Development

Macroeconomic risks and policy coordination

Trade system and supply chain stability

Development partnerships and priorities

China's Economic Development

Growth indicators and economic performance

Fiscal and monetary policy measures

Public Disclosure Authorized Public Disclosure Authorized World Bank Governor's Statement No. 6 October 17, 2025 Statement by the Hon. MIN LIAO, Alternate Governor of the IBRD for THE PEOPLE'S REPUBLIC OF CHINA Statement by the Hon. Min Liao, Alternate Governor of the IBRD for the People's Republic of China I. Global Economic Development Since the beginning of this year, the global economy has demonstrated a degree of resilience, but uncertainty has become the "new normal," with mounting downside risks. Particularly influenced by factors such as trade restrictive measures from major economies and heightened geopolitical tensions, the characteristics of "low growth, high debt, weak investment, and fragmentation" have become increasingly pronounced. We note that the World Bank Group projected that intensified trade tensions and policy uncertainty will lead global economic growth in 2025 to its slowest pace since 2008, with the global growth rate revised down by 0.4 percentage points to 2.3%, and growth forecasts for nearly 70% of economies downgraded. Against this backdrop, we call on all economies to further strengthen communication and coordination on macroeconomic policies, deepen structural reforms, and fully unleash the potential growth momentum brought by new technologies such as new energy and artificial intelligence. We call for safeguarding the multilateral trading system with the World Trade Organization at its core, maintaining the stability of global industrial and supply chains, fostering an open and cooperative international environment, and jointly building an open world economy to inject more certainty and positive energy into global economic growth. Promoting global economic growth and addressing development challenges cannot be achieved without the joint efforts of the international community. To this end, we call on all parties to place development at the center of the international agenda and strengthen global development partnerships. Developed countries should earnestly fulfill their official development assistance commitments; developing countries should deepen South-South cooperation; and multilateral and bilateral development institutions, as well as public and private sectors, should enhance coordinated cooperation. This includes increasing investment in traditional areas such as poverty reduction and growth, and creating new highlights of cooperation in areas such as climate change response, environmental protection, energy transition, and food security, to drive stronger, greener, and healthier global development and collectively advance towards a community with a shared future for mankind. II. China's Economic Development Since the beginning of this year, the Chinese government has introduced a series of policy measures, promoting overall stable economic performance with a trend of progress amidstability. Production and demand have sustained growth, employment and prices have remained generally stable, new quality productive forces are being cultivated and strengthened, and achievements have been made in high-quality development. Demand has sustained growth. In terms of consumption, from January to August, total retail sales of consumer goods increased by 4.6% year-on-year. In terms of investment, fixed asset investment (excluding real estate investment) grew by 4.2% from January to August; within this, manufacturing investment grew by 5. 1% . In terms of trade, in August, the total value of goods trade imports and exports was 3.87 trillion yuan, a year-on-year increase of 3.5% . Employment and prices remained generally stable. From January to August, the average surveyed urban unemployment rate was 5.2%, flat with the average from January to June. In August, core CPI (excluding food and energy prices) rose 0.9% year-on-year, marking the fourth consecutive month of expanding increase. In August, the Producer Price Index (PPI) fell by 2.9% year-on-year, with the rate of dec

FAQs

What global economic challenges does the statement highlight?

It describes increased uncertainty and downside risks alongside “low growth, high debt, weak investment, and fragmentation,” influenced by trade restrictive measures and geopolitical tensions.

What actions does the statement call for to support global growth?

It urges stronger communication and coordination on macroeconomic policies, deeper structural reforms, protecting the multilateral trading system at the WTO core, and maintaining global industrial and supply chain stability.

What does the statement report about China’s economic development and policy measures?

It cites stable consumption, investment (excluding real estate), employment and prices, and notes a more proactive fiscal policy plus a moderately loose monetary policy with measures such as reserve requirement ratio reductions.

Jul 19, 2026

Upload by Aurelia