China

China's GDP will grow by 5.0% in 2024

2025-01-17   

According to data released by the National Bureau of Statistics on the 17th, China's GDP (Gross Domestic Product) will increase by 5.0% in 2024 compared to the previous year. On the same day, the State Council Information Office of China held a press conference on the operation of the national economy in 2024. Kang Yi, Director of the National Bureau of Statistics, stated that in 2024, facing the complex and severe situation of increasing external pressure and internal difficulties, the overall operation of China's national economy is stable and progressing steadily, and the main goals and tasks of economic and social development have been successfully completed. Preliminary calculations show that the annual gross domestic product (GDP) was 1.349084 trillion yuan (RMB), an increase of 5.0% compared to the previous year at constant prices. In terms of industries, the added value of the primary industry was 9.1414 trillion yuan, an increase of 3.5% over the previous year, the added value of the secondary industry was 4.92087 trillion yuan, an increase of 5.3%, and the added value of the tertiary industry was 7.65583 trillion yuan, an increase of 5.0%. By quarter, the gross domestic product (GDP) grew by 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. From a month on month perspective, the gross domestic product (GDP) grew by 1.6% in the fourth quarter. In 2024, China's total grain output was 706.5 million tons, an increase of 11.09 million tons or 1.6% compared to the previous year. For the whole year, the added value of industries above designated size in China increased by 5.8% compared to the previous year, the added value of equipment manufacturing industry increased by 7.7%, and the added value of high-tech manufacturing industry increased by 8.9%, with growth rates 1.9 and 3.1 percentage points faster than those of industries above designated size, respectively. The added value of the service industry for the whole year increased by 5.0% compared to the previous year. The total retail sales of consumer goods for the whole year was 48789.5 billion yuan, an increase of 3.5% over the previous year. The national online retail sales amounted to 1.55225 trillion yuan, an increase of 7.2% over the previous year. In the whole year, the national fixed assets investment (excluding farmers) was 51437.4 billion yuan, an increase of 3.2% over the previous year. Excluding real estate development investment, the national fixed assets investment increased by 7.2%. The total import and export volume of goods for the year was 43846.8 billion yuan, an increase of 5.0% over the previous year. The Consumer Price Index (CPI) for the whole year increased by 0.2% compared to the previous year. After deducting food and energy prices, the core CPI increased by 0.5%. The factory and purchase prices of industrial producers decreased by 2.2% annually compared to the previous year. The average national urban survey unemployment rate for the whole year was 5.1%, a decrease of 0.1 percentage points from the previous year. The per capita disposable income of residents in China for the whole year was 41314 yuan, a nominal increase of 5.3% compared to the previous year, and a real increase of 5.1% after deducting price factors. Among them, the per capita disposable income of urban residents was 54188 yuan, with an actual increase of 4.4% after deducting price factors, while the per capita disposable income of rural residents was 23119 yuan, with an actual increase of 6.3% after deducting price factors. By the end of 2024, the national population (including the population of 31 provinces, autonomous regions, municipalities directly under the Central Government and active servicemen, excluding Hong Kong, Macao and Taiwan residents and foreigners living in 31 provinces, autonomous regions and municipalities directly under the Central Government) will be 1408.28 million, 1.39 million fewer than the end of the previous year. Kang Yi stated that overall, the operation of the national economy in 2024 will be stable, with steady progress and solid promotion of high-quality development. However, it should also be noted that the current external environmental changes have deepened the adverse effects, domestic demand is insufficient, some enterprises are facing difficulties in production and operation, and the economic operation still faces many difficulties and challenges. (New Society)

Edit:Yao jue Responsible editor:Xie Tunan

Source:CNS.cn

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