(MENAFN – AzerNews)
By Alimat Aliyeva
China’s economy grew by 4.8% from January to September 2024, according to Azernews.
For the first three quarters, China’s GDP reached 94.97 trillion yuan (about $13.32 trillion).
The agricultural sector grew by 3.4% to 5.77 trillion yuan ($810 billion), the industrial sector rose by 5.4% to 36.13 trillion yuan ($5.07 trillion), and the service sector increased by 4.7% to 53.07 trillion yuan ($7.44 trillion).
In the July to September period, the growth rate was 4.6%, slightly lower than 4.7% from April to June.
The Chinese government is exploring new ways to boost national growth amidst global market instability. This includes measures to enhance domestic consumption and lower financial risks. China remains a major player in the global economy, contributing approximately 30% to global GDP growth.
China’s GDP growth rates were 3% in 2022 and 5.2% in 2023, with an official target of 5% for 2024, having reached 126.05 trillion yuan (around $17.7 trillion).
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