China has reported that its economy expanded at a 5% annual pace in 2024, achieving Beijing’s target of “around 5%” growth helped by strong exports and recent stimulus measures.

China’s economy expanded 5% in 2024, meeting the official target of “around 5%” growth after stimulus measures introduced late last year appear to be working.

The real estate slump and uncertainty about future income have weighed on consumer spending and business confidence, adding to deflation concerns.

China's exports gained momentum in December, with imports also showing recovery, though strength at the year-end was in part fuelled by factories rushing inventory overseas as they braced for heightened trade risks under a Trump presidency.

China’s exports gained momentum in December, with imports also showing recovery, though strength at the year-end was in part fueled by factories rushing inventory overseas as they braced for heightened trade risks under a Trump presidency.

Trade between the world’s two largest economies is on the brink of chaos again. The outgoing Biden administration has turned up the heat in its final days, handing Trump a loaded gun in the form of sweeping restrictions directed at Beijing.