Release time:

2025-01-31

In 2024, China's total economic output reached 134.9 trillion yuan, marking the first time it has surpassed 130 trillion yuan, with a growth of 5% compared to the previous year, successfully achieving the main expected goals. The continuously rising figures vividly reflect the increasing comprehensive strength of the country. Looking back at the economic report card of China in 2024, I believe it can be interpreted from several aspects: strong strength, abundant innovation, and widespread welfare. Strong strength - From a global perspective, China's economic output remains the second largest in the world. China's 5% economic growth rate ranks among the top of major economies and serves as an important driving force for global economic growth. Domestically, key indicators such as production, demand, prices, and expectations have all shown positive changes. In 2024, supported by the "two重" and "two新" policies, China's total retail sales of consumer goods and fixed asset investment reached 48.8 trillion yuan and 51.4 trillion yuan, respectively, with year-on-year growth rates of 3.5% and 3.2%; the consumer price index rose by 0.2% year-on-year; the manufacturing purchasing managers' index has remained in the expansion zone for three consecutive months since October 2024. These data indicate that China's economy has strong endogenous momentum and risk resistance capacity. Abundant innovation - In 2024, China ranked 11th globally in innovation capability, making it one of the fastest-growing economies in terms of innovation over the past decade. China's R&D investment continues to increase, with the R&D expenditure intensity in 2024 rising by 0.1 percentage points compared to 2023. The added value of high-tech manufacturing and equipment manufacturing industries above designated size accounted for 16.3% and 34.6% of the added value of industries above designated size, respectively, increasing by 0.6 and 1.0 percentage points compared to 2023. Emerging industries such as new energy vehicles, integrated circuits, and industrial robots are thriving. The rise of these new driving forces is like a strong wind, propelling the sails of the Chinese economy forward. Widespread welfare - In 2024, China's grain production reached a historic high, surpassing 1.4 trillion jin for the first time. The national urban surveyed unemployment rate remained at a low level, with an average of 5.1%, down 0.1 percentage points from 2023; the per capita disposable income of residents steadily increased, with a real growth of 5.1% after adjusting for price factors. The scale of the employed population lifted out of poverty has remained stable at over 30 million for four consecutive years, and significant progress has been made in people's livelihood sectors such as education, healthcare, elderly care, and childcare. These achievements have allowed the public to genuinely feel the benefits and welfare brought by economic development. The 5% economic growth rate in 2024 lays a solid foundation for the orderly development of economic work in 2025. Despite the deepening adverse effects brought by changes in the external environment, China's economy faces many risks and challenges on its path forward. However, we must remain confident; the development of China's economy has never been smooth sailing. It is precisely through overcoming various difficulties that it continues to grow stronger. At the same time, China's economic foundation is stable, with many advantages, strong resilience, and great potential. The long-term supportive conditions and basic trends for positive development remain unchanged. In the new year, we will strengthen our confidence in development, maintain strategic determination, and work together to consolidate the upward trend of economic recovery, allowing the giant ship of the Chinese economy to continue sailing steadily and far along the course of high-quality development.