China's economy has been growing since early 2024
China's economy shows stable growth in 2024. This is evidenced by the macro-reporting of the State Statistics Service of the People's Republic of China for January-February of this year, the Chinese international news channel CGTN reports.
Thus, industrial production during the reporting period showed an annual growth of 7%.
The growth in industrial production was supported by activity in international trade. In particular, exports increased by 10.3%, imports by 6.7%. At the end of two months, China remained with a positive foreign trade balance of 891 billion yuan.
The index of entrepreneurial expectations in manufacturing was at 54.2.
The services sector also showed good performance. The services sector grew by 5.8% over two months.
Online sales associated with the New Year holidays led to an increase in online retail to 14.4%. The index of business expectations in the service sector turned out to be even higher than in the manufacturing sector, rising to 58.1.
Growth was also observed in investments in fixed assets, which grew by 4.2% compared to the same period of the last year. Capital investment in infrastructure increased by 6.3%, in production – by 9.4%.
Given the positive macroeconomic statistics, experts believe that China's GDP growth in the first quarter will reach 5.4%.
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