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Strong exports help China hit economic growth targets for 2024

China's economy expanded at a 5% annual pace in 2024, slower than the year before but in line with Beijing's target of "around 5%" growth, helped by strong exports and recent stimulus measures.
 
In quarterly terms, the government reported the economy grew 5.4% in October-December.
 
Exports accelerated as companies and consumers rushed to beat potential tariff hikes incoming President-elect Donald Trump may impose on Chinese goods.
 
Manufacturing was a strong engine for growth last year, with industrial output jumping 5.8% from a year earlier. Total retail sales of consumer goods grew 3.5% at an annual rate.
 


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