The Chinese mainland has achieved a significant economic milestone in 2024, with its Gross Domestic Product (GDP) growing by 5 percent compared to the previous year. This growth, reaching over 134 trillion yuan ($18.40 trillion), underscores the impact of new quality productive forces driving the economy forward.
These new productive forces encompass advancements in technology, innovation, and sustainable practices that have revitalized various sectors. The emphasis on quality over quantity has not only boosted industrial output but also enhanced the efficiency and competitiveness of businesses within the mainland.
In addition to GDP growth, the Chinese mainland saw a 3.5 percent increase in the total retail sales of consumer goods. This rise indicates a robust domestic market and increased consumer confidence, further fueling economic expansion.
The continued focus on developing new productive forces positions the Chinese mainland as a key player in the global economy, attracting investment and fostering international collaborations. As the world becomes increasingly interconnected, these developments set the stage for sustained growth and innovation.
Reference(s):
China's GDP up 5% in 2024, highlighting new quality productive forces
cgtn.com
