China’s GDP Expands 5 pct in H1, Fueling Global Markets

China’s economic resilience persisted through the first half of 2024, as reported by the National Bureau of Statistics. The nation’s gross domestic product (GDP) showed a steady 5 percent year-on-year growth, amounting to approximately 61.68 trillion yuan (about 8.65 trillion U.S. dollars).

In the second quarter alone, China’s GDP expanded by 4.7 percent compared to the same period last year. The industrial breakdown revealed robust growth across sectors: the Second Industry led with a notable 5.8 percent increase, while the Primary Industry grew by 3.5 percent, and the Service Sector recorded a 4.6 percent rise.

These figures underscore China’s role as a formidable force in the global economy, emphasizing its commitment to advancing high-quality development strategies.

#ChinaEconomy #GDPGrowth #EconomicIndicators

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