CCTV News: The State Council Information Office held a press conference on January 17, and the National Bureau of Statistics announced that China's GDP in 2024 increased by 5% year-on-year. The relevant person in charge said that the national economy will operate stably and progress in 2024, and the main goals and tasks of economic and social development will be successfully completed.

According to preliminary calculations, the GDP of 2024 was 1,349,084 billion yuan, an increase of 5.0% over the previous year at the unchanged price. By quarter, GDP grew by 5.3% year-on-year in the first quarter, 4.7% in the second quarter, 4.6% in the third quarter, and 5.4% in the fourth quarter.

From the perspective of production, industrial production has grown better. The added value of industrial enterprises above designated size in the country increased by 5.8% over the previous year. Manufacturing grew by 6.1%.

From the perspective of consumption, market sales maintained growth, with the total retail sales of consumer goods for the whole year of 487895 billion yuan, an increase of 3.5% over the previous year. The national online retail sales were 15522.5 billion yuan, an increase of 7.2% over the previous year.

The consumer prices of residents were generally stable, with the annual consumer price (CPI) rising by 0.2% compared with the previous year. The average national urban surveyed unemployment rate was 5.1%, down 0.1 percentage point from the previous year, and the employment situation was generally stable.

Financial Quick Comment: From quality to incremental, confidence and confidence

GDP exceeds 130 trillion yuan, and the annual economic growth is equivalent to the economic volume of a medium-sized country in one year. On January 17, China's economy once again delivered a brilliant annual "report card". Behind the numbers is not only a reasonable growth of "quantity", but also an effective improvement of "quality".

In this report card, the positive factors supporting the positive development of the economy are increasing. For example, my country's innovation capabilities have been further improved. In 2024, basic research funds increased by 10.5%, accounting for 6.91% of R&D funds. The seeds of innovation have been transformed into the "maximum increase" of new quality productivity.

When observing China's economy, we must not only look at the "form" of short-term fluctuations, but also the "momentum" of long-term development. At present, my country is in a critical period of momentum transformation, and some traditional momentum is weakening, but at the same time, we see that the proportion of new momentum represented by the digital economy is continuing to increase. In 2024, the added value of information transmission, software and information technology services increased by 10.9% over the previous year. As of the end of November 2024, the number of 5G base stations in my country reached 4.19 million. The digital economy empowers thousands of industries and has become an important support and key engine for the development of new quality productivity.

my country is a super-large-scale economy, and both supply and demand can support the domestic circulation. This is the basic support and foundation for my country's economic steady and long-term development. At the same time, new industries, new business forms, and new models, and various fields are accelerating their foothold in the new track of economic development. Through these dazzling data, we see the breadth and diversity of China's economic growth, which is also China's greatest confidence in responding to risks and challenges.