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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