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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The involvement of Yemen’s Houthis has heightened regional tensions as the Iran-aligned group joins the conflict. The U.S. says it is hopeful of holding talks with Iran in the coming days, while Tehran has said that "talking and bombing is intolerable". Welcome to our live coverage of the conflict.
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The foreign ministers of the G7 group of nations on Friday called for an immediate stop to attacks against civilians and civilian infrastructure in the Iran war.
After U.S. President Donald Trump said he would pause attacks on Iran’s energy infrastructure for 10 days, G7 Foreign Ministers, including the U.S., called for an end to attacks on civilians in the Iran war.
The foreign ministers of the G7 group of nations on Friday called for an immediate stop to attacks against civilians and civilian infrastructure in the Iran war.
The involvement of Yemen’s Houthis has heightened regional tensions as the Iran-aligned group joins the conflict. The U.S. says it is hopeful of holding talks with Iran in the coming days, while Tehran has said that "talking and bombing is intolerable". Welcome to our live coverage of the conflict.
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China is moving ahead with plans to establish a nationwide long-term care insurance system, aimed at supporting its rapidly ageing population and easing the financial burden on families caring for elderly relatives.
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