Beijing - Saba:
China announced on Friday a 5 percent increase in its economic growth in 2024, the slowest pace in three decades except for the Covid period.
Chinese media reported that Beijing had set itself a growth target of "around 5 percent" after a 5.2 percent increase in its gross domestic product in 2023, amid an ongoing crisis in the real estate sector, a slowdown in domestic consumption and challenges in foreign trade.
In 2024, China's GDP reached 134.908 billion yuan (17.867 billion euros), according to official estimates issued by the National Bureau of Statistics.
Despite a "complex environment" accompanied by "increasing external pressures and internal difficulties," the goals were "successfully achieved," the bureau confirmed in a document.