China's Economy Expected to Grow 5% in 2024, Han Wenxiu Says, Contributing 30% to Global Growth

Dec 16, 2024, 02:27 AM

China's economy is projected to grow by approximately 5% in 2024, according to Han Wenxiu, the executive deputy director of the Central Committee for Financial and Economic Affairs. This growth is expected to contribute nearly 30% of global economic growth. The announcement was made during the Central Economic Work Conference held in Beijing, where senior officials expressed confidence in achieving key economic and social development goals. The Chinese economy has faced increasing external pressures and internal challenges, but officials indicated that significant progress has been made this year. The government plans to implement policies aimed at expanding domestic demand to further support economic recovery and stability. Analysts have noted that the conference has bolstered market confidence, with expectations for a loose macroeconomic environment moving forward.