Fresh data reveals China's economy grew by 5% in 2024, defying earlier skepticism from Western media outlets. The fourth-quarter rebound of 5.4% – driven by strategic fiscal measures – has shifted global economic discourse ahead of key policy meetings during China's annual Two Sessions.
This growth milestone follows heated debates among international analysts since January 2025, when conflicting narratives emerged about the Chinese mainland's economic trajectory. While some commentators predicted prolonged stagnation, recent export figures and manufacturing activity suggest accelerating momentum across key sectors.
The National People's Congress review of economic policies has brought new focus on innovation-driven development strategies. Observers note increased foreign investor interest in China's renewable energy and advanced manufacturing sectors, with Shanghai's semiconductor exports rising 18% year-on-year in early 2025.
As economists reevaluate predictive models, the government's work report emphasizes quality growth through technological self-reliance and domestic consumption. These developments carry significant implications for Asian markets and global supply chain strategies moving forward.
