Official data released by the National Bureau of Statistics of China

China's GDP Reaches $18.42 Trillion in 2024, Achieving 5% Growth Target

Jan 17, 2025, 04:40 AM

China's economy grew by 5% in 2024, meeting the government's annual growth target of around 5%, according to official data released by the National Bureau of Statistics on Friday. The GDP for the year reached 134.9084 trillion yuan, equivalent to about $18.42 trillion. Quarterly growth rates were 5.3% in the first quarter, 4.7% in the second, 4.6% in the third, and 5.4% in the fourth quarter. The fourth quarter saw a year-on-year growth of 5.4%, up from 4.6% in the third quarter, driven by a series of stimulus measures implemented since September. Despite the positive growth, challenges such as weak domestic demand and external pressures remain.