China's GDP Grows 5% in 2024, Q4 Growth Accelerates to 5.4%

Jan 17, 2025, 02:13 AM

China's economy expanded by 5% in 2024, meeting the government's annual target of around 5%, according to data released on Friday by the National Bureau of Statistics. The country's gross domestic product (GDP) reached 134.91 trillion yuan ($18.42 trillion). Fourth-quarter GDP grew by 5.4% year-on-year, accelerating from 4.6% in the third quarter. Quarterly growth rates throughout the year were 5.3% in Q1, 4.7% in Q2, 4.6% in Q3, and 5.4% in Q4. The acceleration was bolstered by stimulus measures and strong exports, signaling that China's economy is gaining momentum despite mounting challenges.