China Says It Hit 5% 2024 GDP Growth Target | Global News Avenue

China says it has reached annual 5% target Gross Domestic Product (GDP) Growth target for 2024, thanks to stimulus measures This boosted economic activity in the fourth quarter.

According to the National Bureau of Statistics, China’s economy grew by 5.4% in the fourth quarter, and “the main goals and tasks of economic and social development have been successfully achieved.” Beijing released a GDP growth target of “around 5%” in 2024 in March last year.

In 2023, China’s GDP will grow by 5.2%.

Trump threatens to raise tariffs, export-led growth is coming

China’s export-driven economic growth will reach 7.1% in 2024 Criticism from foreign leaders They believe Beijing is selling excess production overseas. US President-elect Donald Trump, who returned to the White House on Monday, threatened to Extra 10% Imposing tariffs on imported products from China.

China said its economy was “generally stable” last year, but warned that “the adverse impact of the external environment has increased, domestic demand has been insufficient, some companies have experienced difficulties in production and operations, and the economy still faces difficulties and challenges.”