China's State Council Information Office (SCIO) held a press conference today to announce the national economic performance for the first three quarters of 2024. Sheng Laiyun, Deputy Commissioner of the National Bureau of Statistics, presented the data and answered questions from the media.
According to Sheng Laiyun, China's economy has demonstrated resilience and maintained steady growth despite global economic uncertainties. The Gross Domestic Product (GDP) grew by X.X% year-on-year, indicating a robust economic recovery and continued momentum from the previous quarters.
Key Economic Indicators
The service sector remained a significant contributor to economic growth, expanding by X.X% and accounting for over half of the GDP. Industrial production saw a year-on-year increase of X.X%, supported by advancements in high-tech manufacturing and green industries.
Consumer spending also showed positive signs, with retail sales of consumer goods rising by X.X%. Online retail sales continued to surge, reflecting the ongoing digital transformation of the economy.
Foreign Trade and Investment
China's foreign trade sustained its growth trajectory, with total import and export values increasing by X.X%. Exports rose by X.X%, while imports grew by X.X%, highlighting the country's integration into the global economy.
Foreign direct investment into the Chinese mainland saw a stable increase, particularly in high-tech industries and services. This underscores international investors' confidence in China's economic prospects and business environment.
Employment and People's Livelihood
The urban unemployment rate remained steady at X.X%, with millions of new urban jobs created. Efforts to enhance social welfare and reduce poverty continued to bear fruit, improving the quality of life for residents across the nation.
Looking Ahead
Sheng Laiyun emphasized that while the economy shows strong performance, challenges remain due to global economic volatility and domestic structural adjustments. The government intends to implement policies that promote sustainable development, innovation, and openness.
\"We are confident in achieving our annual growth targets and will continue to focus on high-quality development,\" Sheng stated during the conference.
The press conference provided valuable insights for global readers, investors, and analysts monitoring Asia's economic trends. As China continues to play a pivotal role in the global economy, its performance has significant implications for international markets and economic stability.
Reference(s):
Live: China's economic performance of the first three quarters of 2024
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