China’s GDP will grow by 5% year-on-year in 2024, with exports driving the economy

China’s GDP will grow by 5% year-on-year in 2024, with exports driving the economy


China’s trade surplus last year was nearly $1 trillion, but strong exports were partly due to weak domestic consumption. Beijing has taken a number of measures to stabilize the economy, including raising salaries for civil servants and allowing local governments to issue more bonds.

China’s GDP will grow by 5% year-on-year in 2024, with exports driving the economy

Adek Berry/Agence France-Presse — Getty Images

China’s economy grew 5% last year despite a prolonged slump in the construction industry, the National Bureau of Statistics reported on Friday.

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