China revises 2024 GDP figures downwards

ISTANBUL

China on Friday said that it had revised gross domestic product (GDP) figures for last year downwards, state media reported.

According to the National Bureau of Statistics of the world’s second-largest economy, GDP was revised to 134.8066 trillion yuan (about $19.16 trillion), down 101.8 billion yuan from the preliminary figure.

But the final verified GDP growth rate for 2024 remained at 5%, unchanged from the preliminary calculation, said the NBS.

China’s GDP target for this year remains at “around 5%,” said a bureau report.

“China's annual GDP goes through two stages of accounting: preliminary calculation and final verification. The final verification is conducted based on the annual statistical data, final fiscal accounts, and departmental administrative records,” the report said.