Chinese economy hits 5% growth target in 2024, driven by trade and stimulus efforts

Posted on January 17, 2025   |  

China’s economy grew by 5% in 2024, meeting the government’s target, driven by strong exports and stimulus measures.

The economy expanded by  5.4% in the October-December quarter, showing steady growth.

Exports increased as businesses and consumers worked to avoid possible tariff hikes from U.S. President.

China, the second-largest economy, faces trade tensions with the U.S. and weak domestic demand.

In 2023, China’s economy grew by 5.2%, slower than in 2024