China’s Gross Domestic Product (GDP) growth is anticipated to reach 5.3 percent in 2024, according to the latest ASEAN+3 Regional Economic Outlook 2024 published by the ASEAN+3 Macroeconomic Research Office (AMRO) on Monday.
The report highlights a positive economic trajectory for the Chinese mainland, reflecting robust domestic demand and effective policy measures. AMRO notes that the recovery is being driven by a rebound in consumer spending and steady investment in infrastructure and technology.
In addition to China’s outlook, the AMRO report forecasts that the ASEAN+3 economies—which include the 10 ASEAN countries plus China, Japan, and the Republic of Korea—are expected to grow at 4.5 percent in 2024, up from 4.3 percent in 2023.
“The region continues to demonstrate resilience amid global economic uncertainties,” said AMRO Chief Economist. “Strong intra-regional trade and investment are key factors supporting this sustained growth.”
The report suggests that policymakers in the region should remain vigilant, focusing on structural reforms and regional cooperation to mitigate potential risks such as inflationary pressures and external shocks.
The positive projections underscore the significant role of the ASEAN+3 economies in driving global economic growth, offering optimism for business professionals, investors, and communities worldwide.
Reference(s):
cgtn.com
