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.

Retail sales, a key measurement of consumer spending, increased 3.7 percent year-on-year in December, compared with the 3 percent growth recorded a month earlier. China's fixed-asset investment rose 3.2 percent in 2024, and in the first 11 months it grew 3.3 percent.