Her government announced today (17.1.2025) that her economics in 2024 had a rate of 5%, the lowest for three decades—with the exception of the pandemic period—a few 24-hours before Donald Trump returned to the White House, who is posing the threat of a new trade war. Beijing had set a target of ‘about 5%’ in terms of growth last year, after 5.2% of 2023, under the ongoing real estate crisis, weak internal consumption and tensions in trade with the US and the EU. In 2024 China’s GDP amounted to 134.9 trillion yuan (17.8 trillion euros), when assessing the Chinese statistical service released today. CORVERSE This indicator, which carries huge political significance, although it is generally treated with great reservation in the West, always attracts great attention, given the special weight of the Asian colossal in the global economy. Group of economists who had been asked by the French Agency expected a marginally lower growth rate (4.9%). Beijing has increased activity support measures last year, spending the largest amounts in recent years, to stimulate consumption. Exports recorded records last year, approaching 3.4 trillion euros (+7.1% on an annual basis), according to official data released on Monday (13.12025). CORVERSE Instead retail sales continued to expand at a rather slow rate (+3.5%) compared to 2023 (+7.2%), indicating that consumers are pressured. Meanwhile clouds are gathering over foreign trade, a Chinese growth machine, pending the tariffs it has announced that American elected President Trump will proceed, which he vows on Monday. Beijing promises to further relax its fiscal policy in 2025 and continue its consumer support measures. The Chinese central bank suggested that it would consider further reductions in its interest rates this year. However, analysts note that even more measures will be needed, particularly given the uncertainty about external trade. The country has barely escaped deflation in December when prices have risen at the slow rate of the last nine months. In February it came out of a four – month deflation period, the largest price drop after 14 years. Experts consulted by the French Agency predicted further slowing China’s growth to 4.4% in 2025 and possibly below 4% in 2026.
At a rate of 5% China’s growth in 2024, with a low of 30 years
—