China’s GDP expands 5% in H1

BEIJING: China's gross domestic product (GDP) grew 5 percent year-on-year in the first half of 2024, data from National Bureau of Statistics (NBS) showed Monday. According to Xinhua News Agency, China's GDP reached around 61.68 trillion yuan (about US$8.65 trillion) in the first half. In the second quarter, the country's GDP expanded 4.7 percent year-on-year, according to the NBS. "Overall, the national economy has continued to improve in the first half in a stable manner," said an NBS spokesperson commenting on the economic performance, citing support from policy incentives, rebound in external demand and development of new quality productive forces. Source: Emirates News Agency