China’s 2024 growth meets official 5% target on stimulus bump

China’s economy hit the government’s growth goal last year, after an 11th hour stimulus blitz combined with an export push before looming US tariffs turbocharged activity in the final quarter.

Gross domestic product rose 5% in the world’s second-largest economy, data released by the National Bureau of Statistics on Friday showed, slightly exceeding the median estimate of 4.9% in a Bloomberg survey. President Xi Jinping said on New Year’s Eve the country was expected to meet the goal of around 5%.