(MENAFN– AzerNews) By Alimat Aliyeva
China’s economy grew by 4.8% from January to September 2024, according to Azernews.
During this period, China’s GDP reached 94.97 trillion yuan (about $13.32 trillion). The growth in various sectors is as follows:
– Agriculture: 3.4% (5.77 trillion yuan, or $810 billion)
– Industry: 5.4% (36.13 trillion yuan, or $5.07 trillion)
– Services: 4.7% (53.07 trillion yuan, or $7.44 trillion).
From July to September, the growth rate was 4.6%, slightly down from the previous quarter.
In response to international market challenges, the Chinese government is introducing measures to boost domestic consumption and reduce financial risks. China remains a key player in the global economy, contributing about 30% to world GDP growth.
In 2022, China’s GDP growth was 3%, and in 2023 it rose to 5.2% (126.05 trillion yuan, or about $17.7 trillion). The target for 2024 is set at 5%.
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