China's economy set to grow with increased industrial production in 2025: Malaysian analyst

China's economy has remained resilient over the last year and is poised for further growth in 2025 with high-quality production set to be a key driver, according to a Malaysian analyst, who noted the tone of Chinese President Xi Jinping's annual New Year address also sends out a positive signal for the year ahead.

In his new year message broadcast on Tuesday, Xi said that China's economy has rebounded and is on an upward trajectory, while noting the need to transform old growth drivers into new ones.

Giving his reaction to Xi's address and outlining his own economic expectations for the coming 12 months, Bunn Nagara, director and senior fellow at the Belt and Road Initiative Caucus for Asia-Pacific (BRICAP) in Malaysia, believes there have been encouraging signs despite various headwinds.

"Of course the big achievement is actually to try to overcome the national economy's challenges. And [President] Xi also talked about the economy experiencing a rebound already in 2024. Although there is a lot more to be done on that score, I think we have seen signs last year of a return to normalcy, post-COVID, for example, a rise in consumer demand, [and] manufacturing doing better. And even the signs of more consumer spending, including areas like outbound tourism. The data is there, and we are seeing a slow but still steady return to economic normalcy. So it's a matter of time I think before the national economy of China returns to pre-COVID days and then to grow even further," he said.

Nagara also highlighted the optimistic tone of Xi’s address, which acknowledged some of the challenges and uncertainties facing the economy but suggested a continued push in China’s industrial production and other new emerging sectors.

The analyst also noted 2025 has been "earmarked" by the Chinese government as a year when "quality production improves significantly over a range of factors".

"This is something that's going to continue over the next few years despite the challenges, but as to how far this will go in terms of quality and quantity of industrial production, we'll have to wait and see, but I think the trend is there, and generally Xi’s address has been one that is upbeat, and also generally optimistic without wallowing in or ignoring the challenges that remain," he said.

On the global front, Nagara noted there is a general recognition of the trends which were alluded to in Xi's speech such as greater cooperation through multilateral organizations like BRICS and among the Global South, particularly in trade and investments, all of which is shaping the international landscape.

Looking ahead, the researcher highlighted China's record-breaking performance in the production of electric vehicles last year, and believes this success can be replicated in other sectors.

"President Xi has also mentioned new quality productive forces and this is something in terms of production factors [that is] achieved by industry at a certain level of industrial maturing, a mature industry, and enjoyed by industry sectors that take production to higher levels. So, one of the achievements out of many in 2024 has been the output of electric vehicles or EVs, and it's reached 80 percent of global output of EVs. And for China, [the production of] more than 10 million [EVs was] already achieved in November 2024. And this is something which inspires production in other industries," Nagara said.

China's economy set to grow with increased industrial production in 2025: Malaysian analyst

Switzerland, known for its pristine lakes and rich tradition of fishing, is facing a significant challenge of plunging fish stocks that could threaten the livelihood of many in the fisheries industry.

In recent years, local fishermen have seen their catches decline drastically, with about 90 percent of the fish consumed in the country now being imported. This shift reflects broader environmental changes impacting Swiss fisheries, and the difficulties local fishermen are enduring are becoming more evident each year.

At seven in the morning, as the first light of dawn begins to break, a handful of fishermen at a dock in Geneva prepare to head out to the lake to check the nets they set the previous day. As the long nets were hauled from the water, the catch of perch was relatively small, but the fishermen were still satisfied, especially since they managed to net two large pike, which would fetch a good price.

Francois Liani, a fisherman of 30 years, said 2024 has been the worst year for fishing with the lowest amount of catch.

"I have never seen anything like this in over 30 years. That's right, 2024 is the worst year in the past 30 years," he said.

Fifty years ago, there were more than 800 professional fishermen in Switzerland. Today, that number has dropped to fewer than 90.

"There are many reasons, but one of the most important reasons is global warming -- it is one of the biggest problems. We have also new mussels that come from the Black Sea on the Eastern Europe that came about five, seven years ago. They have a large impact on the food availability for the fishes," said Maxime Prevedello, communication officer for the French-speaking region of the Swiss Fishing Federation (SFV).

As a result, the growth rate of fish has slowed significantly. In 2012, 2013, and 2014, a professional fisherman was able to catch around 1,000 tons of fish annually. Today, that number has dropped to just around 100 tons -- a mere one-tenth of what it used to be, according to Prevedello.

In the summer of 2024, Switzerland once again endured high temperatures. Native fish species such as perch, grayling, and the Alpine char, which have adapted to cold water, have been particularly affected. According to Switzerland's environmental authorities, 58 percent of the country's native fish species are now classified as endangered.

Swiss fishermen face growing struggle as local fish stocks plunge