China’s economy grew 5 per cent last year on the back of surging manufacturing, official data showed, as companies front-loaded exports in anticipation of higher US tariffs and as Beijing stepped up stimulus efforts.
The economy “recovered remarkably” in the fourth quarter of 2024, said the National Bureau of Statistics, growing 5.4 per cent year on year and rebounding from slower growth in the third quarter.
“With a package of incremental [stimulus] policies . . . confidence was effectively bolstered and the economy recovered remarkably,” the NBS said in its 2024 GDP data release on Friday.
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