China's economy is anticipated to grow by approximately 5 percent in 2024, as stated by President Xi Jinping on Tuesday. During a New Year event, Xi emphasized that proactive macroeconomic policies would be maintained through 2025, according to a report by the state news agency, Xinhua. He also indicated that Beijing plans to deepen reforms, enhance high-level openness, and integrate development with security.
This year, Beijing has set an economic growth target of around 5 percent. The International Monetary Fund (IMF) had forecasted a growth rate of 4.8 percent for China's economy in 2024, followed by 4.5 percent in 2025.
