China posts 5% growth for 2024 as challenges pile up

GDP hits official target but deflationary pressure and Trump tariffs darken outlook

STELLA YIFAN XIE and WATARU SUZUKI, Nikkei staff writers

January 17, 2025 11:05 JST

Updated on January 17, 2025 16:10 JST

HONG KONG/SHANGHAI -- China on Friday announced that its economic growth rate for 2024 was in line with the target set by a government beset by the threat of fresh U.S. tariffs, an enduring property crisis and a frugal consumer mindset that keeps pulling downward on prices.