Gao’s sin? Saying that China may have grown just 2% over the last two or three years, less than half the rate Xi’s government claims. The reason Gao is allegedly being silenced is for shining a brighter-than-usual spotlight on one of the biggest perception problems facing Xi’s Communist Party: that China routinely cooks the GDP books.

China notified the International Monetary Fund on Thursday that its economy grew by 5% in 2024, IMF Chief Economist Pierre-Olivier Gourinchas told reporters, calling the development a "positive surprise" compared to the IMF's forecast of 4.

China’s economy grew more than expected in the last three months of 2024, official data showed on Friday, as it awaits the likely imposition of fresh tariffs by US President-elect Donald Trump, who takes office next week.

China reported its economy grew 5% in 2024, meeting its target of around 5%. Analysts polled by Reuters had expected China's full-year GDP growth to come in at 4.9%, just shy of the official target of around 5% — which analysts had said was ambitious.

KEY TAKEAWAYS China met its annual 5% GDP growth target for 2024, thanks to the stimulus measures that buoyed economic activity in the fourth quarter.According to the country's National Bureau of Statistics,

China's economy likely rebounded in the fourth quarter as several rounds of policy stimulus kicked in, enabling the government to largely meet its 2024 growth target, though the risk of new U.S. tariffs could hold back a broader recovery.

Sales of consumer goods grew a moderate 3.5 percent, while hospitality sectors continued to outperform discretionary segments such as apparel, gold and jewelry.