China’s economy ended 2024 on a stronger note than expected, driven by government stimulus measures. However, with rising tensions with the United States and ongoing domestic challenges, the outlook for 2025 remains uncertain.
China’s economy wrapped up 2024 with stronger-than-expected growth, bolstered by government stimulus efforts. However, challenges on the horizon—such as strained relations with the United States and weak domestic demand—raise questions about the recovery prospects heading into 2025.
According to recent data from the National Bureau of Statistics, China’s economy grew by 5.0% in 2024, meeting the government’s annual target. The fourth-quarter growth, in particular, was the strongest in over a year, reflecting the positive impact of the government’s support efforts.
Quarter-on-quarter, China’s GDP rose by 1.6%, a slight improvement from the previous quarter’s revised 1.3%, highlighting the effectiveness of Beijing’s efforts to stabilize the economy amidst ongoing challenges.
Despite the positive growth figures, China continues to face significant hurdles. The country’s property crisis remains unresolved, local government debt continues to rise, and domestic consumer demand remains weak. On the international stage, tensions with the United States are escalating. President-elect Donald Trump, set to take office next week, has proposed new tariffs on Chinese goods, which could further destabilize China’s export sector—a key driver of the country’s growth.
Although China reported a trade surplus of $992 billion in 2024, the yuan has been under pressure, hitting a 16-month low. Analysts point to a combination of factors, including a strong U.S. dollar, declining Chinese bond yields, and concerns about increased trade barriers.
December’s economic data suggests that Beijing’s stimulus measures are beginning to yield results. Industrial output and retail sales showed solid gains, spurred by government efforts and the seasonal boost from preparations for the upcoming Lunar New Year.
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Moscow’s major airports have experienced widespread flight delays and cancellations due to heavy snowfall and icy conditions, disrupting travel across Russia, Europe, and the Caucasus.
The UN Security Council is set to hold an emergency session on Monday to discuss Israel’s recognition of Somaliland as an independent state, amid criticism from African, Middle Eastern, and other international actors.
Two people were killed and 26 others injured after a massive multi vehicle crash on a major expressway in Japan as the country began its end of year holiday travel period, police said on Saturday.
Russian President Vladimir Putin said on Saturday that Russian forces have captured the Ukrainian towns of Myrnohrad in Donetsk region and Huliaipole in Zaporizhzhia region, describing the developments as part of the ongoing "special military operation."
New York placed the state under emergency measures on Friday as a powerful winter storm brought the heaviest snowfall since 2022, disrupting travel across the north-east of the United States.
Russia launched missiles and drones at Kyiv and other parts of Ukraine overnight on Saturday, Ukrainian officials said, ahead of talks on Sunday between President Volodymyr Zelenskyy and U.S. President Donald Trump aimed at ending nearly four years of war.
The United States carried out a strike against Islamic State militants in northwest Nigeria at the request of Nigeria's government, President Donald Trump and the U.S. military said on Thursday.
Israel became the first country to formally recognise Somaliland as an independent state on Friday, drawing strong condemnation from Somalia and regional and international organisations.
Ukrainian President Volodymyr Zelenskyy said on Friday that Russia is using territory in neighbouring Belarus to support attacks on Ukrainian targets and to circumvent Kyiv’s defensive positions, warning that the practice undermines Belarusian sovereignty.
Italian authorities have arrested nine people on suspicion of financing Hamas through Italy based charities, prosecutors said on Saturday, in an operation coordinated by anti mafia and anti terrorism units.
Ukrainian President Volodymyr Zelenskyy is travelling to the United States to meet President Donald Trump in Florida on Sunday, in what officials describe as a critical step in ongoing U.S.-led diplomatic efforts to end Russia’s full-scale war against Ukraine.
Iran is engaged in a “comprehensive war” with the United States, Israel, and Europe, Iranian President Masoud Pezeshkian stated on Saturday.
A strong earthquake with a magnitude of 6.6 struck the waters off Yilan County, Taiwan, late on Saturday, the China Earthquake Networks Center (CENC) reported.
Moscow’s major airports have experienced widespread flight delays and cancellations due to heavy snowfall and icy conditions, disrupting travel across Russia, Europe, and the Caucasus.
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