China's GDP Grows 5% in 2024, Q4 Growth Hits 5.4%, Meeting Target

Jan 17, 2025, 02:08 AM

China's GDP grew by 5% year-on-year in 2024, totaling 134.9084 trillion yuan (about $18.42 trillion), meeting the government's target of around 5%. The National Bureau of Statistics reported that the fourth quarter growth was 5.4%, up from 4.6% in the third quarter, 4.7% in the second quarter, and 5.3% in the first quarter. The fourth quarter growth rate was the highest quarterly growth of the year. The annual growth was supported by strong exports and stimulus measures, which bolstered economic expansion in the final months of 2024.