(MENAFN– AzerNews)
By Alimat Aliyeva
China’s economy grew by 4.8% from January to September 2024, according to Azernews.
For three quarters, China’s GDP was 94.97 trillion yuan (around $13.32 trillion). The agricultural sector rose by 3.4% (5.77 trillion yuan, or $810 billion), industry by 5.4% (36.13 trillion yuan, or $5.07 trillion), and services by 4.7% (53.07 trillion yuan, or $7.44 trillion).
From July to September, GDP growth slowed to 4.6%, down 0.1 percentage points from the previous quarter.
China’s government is exploring new strategies to support economic growth amid global market instability. They are focusing on boosting domestic consumption and minimizing financial risks, maintaining its status as a top global economy and contributing about 30% to world GDP growth.
In 2022, China’s GDP growth was 3%, rising to 5.2% in 2023 (126.05 trillion yuan or roughly $17.7 trillion). The growth target for 2024 is set at 5%.
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