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China will overcome external uncertainties caused by the US tariffs and try to achieve economic stability and certainty at the home court, an official with the National Bureau of Statistics (NBS) said on Tuesday in Beijing.

In response to a media question over how the Chinese government plans to cope with the impacts of the US tariffs on its economy, NBS deputy head Sheng Laiyun said that in the face of external volatilities, the Chinese government will take the initiative and counter the problems head on by prioritizing the domestic circulation, intensifying the implementation of proactive macroeconomic policies, expanding domestic demand and boosting public consumption.

"We will steadfastly focus on our own affairs and use the stability and certainty of the Chinese economy to respond to external uncertainties," Sheng said, adding that "high tariffs will definitely ratchet up trade costs and is bad for economic and trade growth."

Domestic demand has been the main driving force behind economic growth in the first half of the year. On the other hand, China is actively promoting high-level opening-up, expanding network of partnerships, diversifying trade, and reducing reliance on a single market, which are all effective policies, Sheng said. 

"We believe that as these policies are further implemented, the effects of promoting consumption, stabilizing investment, and boosting foreign trade will become more evident, continuing to contribute to the stable development of the Chinese economy," said the official.

Domestic demand contributed to 68.8 percent of China's GDP growth in the first half, according to Sheng.

China's economy posted a solid 5.3 percent growth in the first half of 2025. Retail sales of consumer goods grew 5 percent year-on-year in the first half year, while the value added of industrial enterprises above designated size was up 6.4 percent, and fixed-asset investment climbed by 2.8 percent.

On Monday, China's foreign trade posted a 2.9 percent growth year-on-year in the first half of 2025 to reach 21.79 trillion yuan ($3.04 trillion), beating market expectations.

According to a July 7 blog post by the World Bank, economists expect global trade growth to "slow markedly this year, largely because of the cumulative effects of higher tariffs and elevated policy uncertainty."

Also, the annual trade growth is forecast to decelerate to around 1.8 percent in 2025 from 3.4 percent in 2024.

Global Times