China's 2024 GDP Growth Hits 5%!

On January 17, the State Council Information Office held a press conference to introduce the operation of the national economy in 2024.

According to the data from the National Bureau of Statistics, the main development goals of steady economic operation in 2024 were successfully achieved. According to preliminary calculations, the GDP for the whole year of 2024 was 134,908.4 billion yuan, an increase of 5.0% over the previous year at constant prices.

By industry, the added value of the primary industry was 9,141.4 billion yuan, an increase of 3.5% over the previous year; the added value of the secondary industry was 49,208.7 billion yuan, an increase of 5.3%; the added value of the tertiary industry was 76,558.3 billion yuan, an increase of 5.0%.

By quarter, GDP in the first quarter increased by 5.3% year-on-year, 4.7% in the second quarter, 4.6% in the third quarter, and 5.4% in the fourth quarter. From a month-on-month perspective, GDP in the fourth quarter increased by 1.6%.