Investing.com– China’s economy grew more than expected in the fourth quarter of 2024, gross domestic product data showed on Friday, as Beijing doled out a slew of stimulus measures aimed at supporting growth.
grew 5.4% year-on-year in the three months to December, more than expectations of 5% and picking up sharply from the 4.6% seen in the prior quarter, government data showed.
grew 1.6% quarter-on-quarter, in line with expectations.Â
This brought to 5%, just in line with Beijing’s 5% growth target. The Chinese economy grew 5% for the second consecutive year, with Beijing having set a similar target for 2025.Â
Friday’s reading showed that recent stimulus measures from Beijing- doled out since late-September- were beginning to bear fruit. The government had unveiled its most aggressive round of stimulus measures during the quarter, aimed largely at supporting local manufacturing, curbing state government debt, and also…
