China's GDP rises 5 percent in H1 of 2024

(MENAFN) The National Bureau of Statistics announced on Monday that China's economy has maintained strong growth momentum in the first half of 2024, with a notable 5 percent year-on-year increase in gross domestic product (GDP), reaching approximately 61.68 trillion yuan (USD 8.65 trillion) during this period. In the second quarter alone, GDP expanded by 4.7 percent, marking a consistent uptrend.

A spokesperson for the National Bureau of Statistics emphasized the steady and stable improvement of the national economy throughout the first half of the year. This positive trajectory was attributed to several key factors. First, supportive policy incentives implemented by the government played a crucial role in bolstering economic activities. Second, there was a noticeable recovery in external demand, contributing to export growth and overall economic resilience. Third, significant strides were made in advancing modern, high-quality productive capacities, which stimulated domestic consumption and innovation.

The spokesperson further underscored that these combined efforts have reinforced China's economic resilience amid global economic uncertainties. The steady growth in GDP reflects the country's ability to adapt and thrive despite external challenges, positioning China as a crucial stabilizing force in the global economy. Looking ahead, continued focus on sustainable economic policies and innovation-driven growth is expected to sustain China's economic momentum into the foreseeable future.

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