>>2277876Building China’s Strength and Advancing Its Rejuvenation Through Modernization Drive
By CPC Leadership Group of the National Bureau of Statistics Source: English Edition of Qiushi Journal Updated: 2025-05-16
The year of 2024 was an extraordinary one in China’s economic development. Faced with the challenges posed by growing international pressures and mounting domestic issues, the Central Committee of the Communist Party of China (CPC), with Xi Jinping at its core, united all members of the Party and all the Chinese people and led them in responding calmly and adopting coordinated measures in order to overcome obstacles to high-quality economic development. It also continued to chart the course of stability, maintained forward momentum, and introduced new drivers of development.
I. Strengthening the economy and attaining objectives
In 2024, the CPC Central Committee led by Xi Jinping responded proactively and effectively to risks and challenges. It strengthened and developed macroeconomic regulations whenever needed. Of particular note was the package of policies announced at a meeting of the Political Bureau of the CPC Central Committee on September 26, which led to a marked upturn in China’s economic performance, thereby boosting people’s confidence and helping to realize our development goals for the year.
The overall trend last year was of economic stability
Preliminary data indicate that GDP reached 134.9 trillion yuan in 2024, a year-on-year increase of 5%, surpassing the 130-trillion-yuan threshold for the first time. This steady increase in GDP raised China’s economic might, scientific and technological capabilities, composite national strength, and living standards to new levels. It also resulted in stronger foundations, an optimized structure, greater sustainability, and more resilience to risk for China’s development.
Despite lingering structural pressures, employment increased as a result of GDP growth, growing service sector employment, and new modes of employment created by new industries and new forms of business. These factors, together with more effective employment-oriented policies, contributed to the stabilization of the job market. In 2024, the surveyed unemployment rate in cities and towns fell to 5.1%, 0.1 percentage points lower than the previous year, and 12.56 mill
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