China's economy demonstrated steady growth in the first quarter of 2024, expanding by 5.4% year-on-year, according to recent data. This marks a 0.4 percentage point increase compared to the country's annual GDP growth rate in 2023, signaling momentum amid global economic uncertainties.
Professor Liu Baocheng, Dean of the Center for International Business Ethics at the University of International Business and Economics, emphasized the structural strengths of China's economy during an interview. 'China's diversified industrial base, innovation-driven policies, and robust domestic consumption provide a durable foundation,' he stated, highlighting resilience in the face of geopolitical tensions and supply chain realignments.
Analysts attribute this growth to increased manufacturing output, targeted government stimulus measures, and rising foreign investments in high-tech sectors. Multinational corporations continue to expand operations in the Chinese mainland, with renewable energy, electric vehicles, and AI development emerging as key growth drivers.
The figures align with long-term economic objectives outlined by Chinese policymakers, including efforts to upgrade manufacturing capabilities and deepen international trade partnerships. Market observers suggest sustained investor interest in Asian markets amid broader global volatility.
