Chinese Economy Hits 2024 Growth Target, But Storm Clouds Are Gathering
Source: SeekingAlpha
2025-02-06 10:30:00 ET
Summary
- Data published over the past month confirmed that the Chinese economy grew by 5.0% year-on-year in 2024, which was exactly in line with its growth target of around 5%.
- With Trump's return signalling a new era of tariffs and protectionism, external demand is expected to weaken, heightening the need to boost domestic demand.
- With the external environment looking difficult to navigate, for China’s economic outlook, we believe the domestic response is actually more important.
By Lynn Song
Mission accomplished on 2024 growth target as growth drivers shift
Data published over the past month confirmed that the Chinese economy grew by 5.0% year-on-year in 2024, which was exactly in line with its growth target of around 5%. China's fourth quarter 2024 GDP surged to 5.4% year-on-year, up from 4.6% YoY in 3Q24, marking the highest level of the year, and the fastest YoY growth of any quarter since 2Q23, benefiting from an adjustment in the GDP calculation methodology to better reflect the rental market....
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Chinese Economy Hits 2024 Growth Target, But Storm Clouds Are Gathering
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