Beijing hit its GDP growth target of 5 percent in 2024, according to its statistics bureau—but deflationary pressures remain.
China's population fell last year for the third straight year, its government said Friday, pointing to further demographic challenges for the world's second most populous nation, which is now facing both an aging population and an emerging shortage of working age people.
China has reported that its economy expanded at a 5% annual pace in 2024, achieving Beijing’s target of “around 5%” growth helped by strong exports and recent stimulus measures.
China's economy grew 5% in 2024, meeting its growth target of around 5%.
China notified the International Monetary Fund on Thursday that its economy grew by 5% in 2024, IMF Chief Economist Pierre-Olivier Gourinchas told reporters, calling the development a "positive surprise" compared to the IMF's forecast of 4.
The country’s population fell for a third straight year as deaths outpaced births.
As Donald Trump prepares for his second term, China’s dominance of global manufacturing is greater than ever.
Analysts say they see signs of malaise in China’s domestic economy, but those problems were offset mainly by robust exports and a $1 trillion trade surplus.
The fall came despite a slight rise in births last year, the first increase since 2016. State efforts to cajole women to have children have met resistance.
Traders snapped up bullish option bets Friday on exchange-traded funds linked to Chinese stock indexes after US President-elect Donald Trump and Chinese President Xi Jinping discussed trade and other topics.