The Chinese mainland has shown impressive economic resilience with its GDP increasing by 5% in 2024 compared to 2023, reaching a staggering 134 trillion yuan ($18.40 trillion). This growth is largely attributed to the emergence of new quality productive forces that have acted as a powerful catalyst.
In addition to the GDP surge, the total retail sales of consumer goods saw a healthy increase of 3.5%. This boost in consumer spending highlights the strengthening confidence among shoppers and the effectiveness of economic policies aimed at stimulating domestic consumption.
Experts believe that the focus on quality and innovation in productive sectors has not only driven economic growth but also laid a solid foundation for sustainable development in the years to come. As the Chinese mainland continues to evolve its economic strategies, young entrepreneurs and professionals are keeping a close eye on these trends to seize new opportunities in the market.
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Reference(s):
China's GDP up 5% in 2024, highlighting new quality productive forces
cgtn.com
