China's Economy Grows 5.4% in Q4 2024
China's Economy Grows 5.4% in Q4 2024

China's Economy Grows 5.4% in Q4 2024

News summary

China's economy showed strong growth, with a 5.4% year-on-year increase in GDP for the fourth quarter of 2024, exceeding market expectations of 5%. Guangdong province has set a growth target of around 5% for 2025, reflecting its challenges due to a slowing economy and the ongoing property crisis. Investment growth is projected to strengthen in 2025, supported by early project approvals and debt relief measures for local governments, with confidence in meeting the 2024 growth target of around 5%. The Shanghai GDP is expected to surpass 5 trillion yuan in 2024, maintaining a growth rate of about 5%, bolstered by strong performance in major industries and infrastructure. Additionally, Guangdong aims to enhance its economic output and public revenue while fostering tourism and urban employment. The overall outlook for China's economy remains resilient despite regional challenges.

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