According to data from the National Bureau of Statistics, China’s gross domestic product (GDP) in 2024 reached 134.9084 trillion yuan, representing a 5.0% year-on-year growth at constant prices. Economic growth in 2024 exhibited a pattern of high growth early in the year, moderate growth in the middle, and acceleration in the later period.
At a press conference held on January 17, 2025, Kang Yi, Director of the National Bureau of Statistics, stated that the overall performance of the national economy in 2024 was stable and improving, with significant progress in high-quality development. However, he also noted that unfavourable external environmental changes, insufficient domestic demand, and operational challenges faced by some enterprises presented difficulties and challenges for economic operations.
Looking ahead to economic work in 2025, Kang emphasised deepening reform and opening up, implementing more proactive macroeconomic policies, expanding domestic demand, promoting the integration of technological and industrial innovation, stabilising expectations and stimulating vitality. Several experts told Caijing that expanding domestic demand will be a key priority for economic work in 2025, with expectations for proactive fiscal policies and accommodative monetary policies.
