China’s GDP grew 5% year-on-year in 2024
On January 17, the National Bureau of Statistics released the 2024 China Economic Annual Report. According to preliminary calculations, China’s GDP for the whole year was 134,908.4 billion yuan, an increase of 5.0% over the previous year at constant prices.
By quarter, GDP grew 5.3% year-on-year in the first quarter, 4.7% in the second quarter, 4.6% in the third quarter, and 5.4% in the fourth quarter.
In terms of industry, the added value of the primary industry was 9,141.4 billion yuan, an increase of 3.5% over the previous year; the added value of the secondary industry was 49,208.7 billion yuan, an increase of 5.3%; the added value of the tertiary industry was 76,558.3 billion yuan, an increase of 5.0%.