China hits 5% growth target for 2024 as Q4 GDP beats expectations

Chinese policymakers have introduced a series of incremental policies since September, and key economic indicators have gradually stabilized after several months of adjustments. Following that, more measures have been launched intensively at the beginning of 2025, and the continuity of these policies has positive significance for boosting market confidence and promoting high-quality economic development,

Yao Jingyuan, a special researcher of the Counselors' Office of the State Council, told the Global Times

China's extensive experience in macro control, along with the willingness of our enterprises to pioneer and the hardworking nature and wisdom of our people, have together strengthened our confidence in promoting high-quality development and addressing risks and challenges,

he said

China's industrial structure has continued to optimize and to be upgraded,

Kang said,

Again, repeatedly, (it might be) the sixth edition of the ‘China collapse’ theory in the last 40 years, given that China has grown so miraculously. I think it is a wrong way to look at China. The potential is there and it’s far from reaching its potential,

she said, highlighting

We should never underestimate the challenges and headwinds,

the ambassador added when projecting into 2025,

There is often disconnect between external views and what is happening within China, in the sense that expectations about the economy in China last year are probably more cautious globally than they needed to be,

he told China Daily

These above achievements have once again exceeded outside forecasts and proved some people in the West wrong,

he said

The key phrases will be proactive fiscal policy and moderately easy monetary policy,

he said

In terms of macroeconomic policy, the key issue is to give a boost to domestic demands…Those developments have been touched on by the Central Economic Work Conference in December and the third plenum (The third plenary session of the 20th Communist Party of China Central Committee), but they take time to feed through,

he said

China’s GDP is expected to exceed 130 trillion yuan ($18 trillion) in 2024 and the annual growth rate is forecast to be around 5 percent. China remains the biggest engine driving the world economy,

he said