China's economy grew 5% last year, matching the government's target, but in a lopsided fashion, with many people complaining of worsening living standards as Beijing struggles to transfer its industrial and export gains to consumers.

Thanks to the stimulus measures that buoyed economic activity in the fourth quarter, China says it met its 5% GDP growth target for 2024.

China has reported that its economy expanded at a 5% annual pace in 2024, slower than the year before but still hitting Beijing’s target of “around 5%” growth