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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World leaders have expressed condolences and solidarity after 15 people were killed in a mass shooting during Hanukkah celebrations at Sydney’s Bondi Beach on Sunday.
Start your day informed with AnewZ Morning Brief: here are the top news stories for the 15th of December, covering the latest developments you need to know.
Thailand has stopped fuel shipments passing through its border with Laos over fears they were being diverted to Cambodia, as fierce fighting between the two neighbours shows no sign of easing.
Two people were found dead at the Los Angeles home of actor-director-producer Rob Reiner, with law enforcement treating the deaths as an apparent homicide, the Los Angeles Police Department (LAPD) said on Sunday (14 December).
Hong Kong’s High Court on Monday found pro-democracy campaigner and media tycoon Jimmy Lai guilty of conspiracy to collude with foreign forces and to publish seditious material under a China-imposed national security law, a ruling that could see the 78-year-old jailed for life.
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