National Bureau of Statistics of China

Xi Jinping Announces 5% GDP Growth Target for China in 2024, Aims for Over 130 Trillion Yuan, Plans Proactive Policies for 2025

Dec 31, 2024, 09:34 AM

Chinese President Xi Jinping has announced that the country's GDP is expected to grow by around 5% in 2024, aligning with the government's official target. This statement was made during a New Year's reception hosted by China's top advisory body. Xi also pledged to implement more proactive macroeconomic policies in 2025 to support the economy, emphasizing the need to deepen reform, expand high-level opening up, and better coordinate development and security. Despite facing domestic and international challenges, Xi expressed confidence in achieving the main socio-economic development goals for 2024. Additionally, he mentioned that China's GDP for 2024 is expected to exceed 130 trillion yuan.